Sign up for free newsletter

 

Handshake and money

Gramercy Property Trust acquires USD19.1m cold storage facility in Chicago


Gramercy Property Trust has closed the acquisition of a 187,000 square foot cold storage facility and dry warehouse located in Arlington Heights, Illinois.

The two attached buildings are 100 per cent leased through May 2019 to a specialty food importer and distributor, with a lease guaranty from the tenant’s parent company, a global leader in broadline food distribution.
 
Year one net operating income is approximately USD1.5 million (8.1 per cent initial cap rate; 8.4 per cent annualised straight-line cap rate) with annual rent escalations throughout the lease term.
 
The facility was acquired all-cash for a purchase price of USD19.1 million.

Furtherreading
from our other sites
events
5 days 9 hours from now - Paris
1 week 2 days from now - London
1 week 2 days from now - New York
1 week 3 days from now - London
2 weeks 4 days from now - New York
training
Sun, 19/03/2017   - London
Mon, 20/03/2017   - London
Tue, 21/03/2017   - London
listingsdirectory
IKONIC Fund Services Ltd.
Tue, 29/11/2016 - 11:28
Backstop Solutions Group
Tue, 08/11/2016 - 17:44
The Gemini Companies
Mon, 17/10/2016 - 11:51
specialreports
other gfm publications