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.

events
2 days 23 hours from now - London
3 days 23 hours from now - London
3 days 23 hours from now - New York
4 days 16 hours from now - London
listingsdirectory
Maitland
Thu, 29/09/2016 - 21:25
Meyler Capital
Tue, 06/09/2016 - 15:57
Nasdaq
Tue, 30/08/2016 - 11:02
training
Mon, 03/10/2016   - London
Mon, 03/10/2016   - London
Tue, 04/10/2016   - London
specialreports
other gfm publications