12-property net-lease portfolio to sell for $399m
Gramercy Property Trust has agreed to acquire a portfolio of 12 single-tenant net-lease assets from Dividend Capital Diversified Property Fund for approximately $399 million.
The portfolio totals approximately 2.67 million square feet and consists of six office assets, four industrial assets and two data centers with a majority of the assets located in major markets: Dallas, Denver, Houston, Los Angeles and South Florida.
The highest priced asset was an office property let to Crawford & Co., located in Fort Lauderdale, Fla., which is selling for $60 million. The office property totals 248,382 square feet. Although it is the highest priced asset in the portfolio, it is not largest. The largest and second highest priced asset of the portfolio is the 769,876-square-foot Amazon distribution center in Campbellsville, Ky., which is selling for $55.1 million.
The smallest and lowest-priced property was the 90,000-square-foot industrial property CEVA Frei