CASCADE TOWNSHIP — A Chicago-area real estate investment firm has purchased the Tesla Tool and Die plant in Grand Rapids as part of a multi-state, 11-building portfolio, MiBiz has learned.

According to property records, an entity tied to Rosemont, Ill.-based Brennan Investment Group acquired the plant at 5460 Executive Parkway for $9.5 million on Aug. 31 from an affiliate of Welsh Property Trust, a Minnetonka, Minn.-based real estate investment trust.

The 178,000-square-foot plant, which was built in 1989 and sits on an 18.5-acre site in Cascade Township, appears to be a part of a $100 million buy for Brennan Investment Group, which on Sept. 12 issued a statement saying that it had acquired a 2.5 million-square-foot industrial portfolio. The announcement did not name specific properties, but included Grand Rapids as one of the markets involved.

The property investor focuses its portfolio on single-tenant industrial facilities in the top 100 U.S. markets that have at least 10 years remaining on their lease and are “mission critical” to tenants. The facilities span the industrial market, including manufacturing, assembly, R&D and distribution.

Other facilities included in the deal were located in Chicago, Ill., Milwaukee, Wis., Pittsburgh, Pa., Birmingham, Ala., Jacksonville, Fla. and Minneapolis, Minn., according to a statement.

“We have the ability to both acquire large portfolios as well as aggregate individual long-term net lease assets,” Brennan Investment Group Chairman and Managing Principal Michael Brennan said in a statement. “Utilizing our operational expertise and network of regional offices, we can invest across the U.S. in both long and short duration net leased properties with an emphasis on mission critical assets.”

In West Michigan, Brennan Investment Group is buying into a strong industrial market. According to the West Michigan office of brokerage firm Colliers International, industrial vacancy stood at 5.12 percent at the end of the second quarter, which compares to 5.3 percent nationally.

Calls to Brennan Investment Group for comment were not returned as this report was published. The private real estate investment firm has invested more than $3 billion in industrial real estate since 2010. Its portfolio includes facilities in 25 states totaling more than 33 million square feet.

Brennan Investment Group worked with Greenwich, Conn.-based Arch Street Capital Advisors LLC on the deal.

Tesla Motors (Nasdaq: TSLA) has been in the facility since May 2015, when it acquired the former Riviera Tool Co., a large-scale manufacturer of custom stamping dies.