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Stock Market & Financial Investment News

News Breaks
May 5, 2014
08:32 EDTGPTGramercy Property Trust acquires two industrial properties for $18.7M
Gramercy Property Trust announced that it acquired, in separate transactions, two industrial properties totaling approximately 295,000 square feet for a total purchase price of approximately $18.7M, net of approximately $285,000 of rent credit. Both properties are 100% leased with a weighted average lease term of approximately 13 years. Year 1 net operating income for the two properties totals approximately $1.4M. The first property is an approximately 112,000 square foot manufacturing facility located in Elgin, Illinois, which is leased through August 2028 with annual rent escalations to a global manufacturer of small, engineered metal components. The second property is an approximately 183,000 square foot industrial warehouse located in Harrisburg, Pennsylvania, which is leased through February 2025 with annual rent escalations to a subsidiary of a large multinational industrial company.
News For GPT From The Last 14 Days
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July 28, 2015
08:36 EDTGPTGramercy Property acquires $46.8M property in Minneapolis
Gramercy Property Trust announced that it closed on the acquisition of an industrial property totaling approximately 585,200 square feet in Fridley, Minnesota. The property consists of an R&D, testing and prototype industrial facility that is currently undergoing renovation. The building is 100% leased to a global defense, security and aerospace company through October 2025, which has either directly or through its predecessor companies operated out of the facility for over 70 years. Upon completion of the renovation in November 2015, Year 1 net operating income is anticipated to be approximately $3.4M with yearly escalations in rent throughout the lease term. The property was acquired all-cash for a purchase price of $46.8M.
July 23, 2015
08:31 EDTGPTGramercy Property buys distribution facility in Philadelphia for $26.1M
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