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May 21, 2014
08:32 EDTGPTGramercy Property Trust acquires three properties for $39.6M
Gramercy Property Trust has acquired, in separate transactions, three properties totaling approximately 423,000 square feet for an aggregate purchase price of approximately $39.6M. Year 1 net operating income for the three properties totals approximately $2.8M and a weighted average lease term of approximately 11.5 years.
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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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