Arch Street Capital and Orion announce single-tenant office partnership

Arch Street Capital Advisors and Orion Office REIT have formed a programmatic venture focused on the acquisition of long-term leased, single-tenant office assets.

Orion's interest in the partnership was assumed from VEREIT as part of Orion’s spin-off transaction after the Realty Income Corporation and VEREIT merger. To date, the partnership has acquired six assets for about $227 million. The partnership actively is seeking new single-tenant office investment opportunities in the range of $10 million to $60 million.

The partnership recently acquired 700 Market Street (see above), a 127,468-square-foot, state-of-the art office property in the central business district of St. Louis. The long-term leased, mission-critical office property serves as the corporate headquarters for an investment-grade-credit tenant. The property is adjacent to the new $360 million Ballpark Village, one block from Busch Stadium, and four blocks from the Gateway Arch, providing a live-work-pla