One Liberty Properties acquires two industrial properties.
One Liberty Properties announced that it acquired two industrial properties for an aggregate purchase price of $11.8M. On May 30, One Liberty acquired a 100,000 square foot industrial facility on 4.6 acres located three miles east of downtown Nashville, Tennessee, for $8M. The property is leased to two tenants with leases expiring in 2023 and 2024. The current aggregate annual base rent under the leases is $519,000, with annual increases ranging from 3.0% to 3.5%. On May 30, One Liberty acquired a 57,000 square foot industrial property on 3.1 acres located in Wauconda, Illinois, a suburb of Chicago, for $3.8M. The 32-foot clear, Class A building is net leased to Echo, Inc., a manufacturer and distributor of outdoor power and professional landscape equipment, and is used primarily for warehouse and distribution purposes. The lease provides for an annual base rent of $278,000, with 3% annual increases through lease expiration in early 2024.
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|Date:||Jun 4, 2019|
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