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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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February 18, 2015
08:33 EDTGPTGramercy Property Trust acquires five properties for $44.4M
Gramercy Property Trust announced that it closed on the acquisition of one office and four industrial properties totaling approximately 590,000 square feet. The properties are 100% leased with a weighted average lease term of approximately 6.7 years. For the five properties, Year 1 net operating income is anticipated to be approximately $3.4M with 7.6% initial cap rate, 8.0% annualized straight-line cap rate. The properties were acquired all-cash for a purchase price of approximately $44.4M. The company assumed one in-place mortgage loan totaling approximately $13M with a remaining term of approximately 2 years until maturity with respect to one of the properties. The first property is a cross-dock truck terminal located in Milford, Connecticut, leased to a national less-than-truckload carrier. The second property is an approximately 115,000 square foot Class A call center, office and operations facility located in Charlotte, North Carolina, which is leased to a provider of high-speed data, video and voice services. Lastly, the company acquired three single-tenant industrial properties totaling approximately 450,000 square feet located in the Milwaukee, Wisconsin.

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