Granite REIT has acquired an income-producing property in the United States comprising 1.0 million square feet at a purchase price of C$85.9 million ($68.9 million).
Located at 3090 State Highway 42, Atlanta, the property is a 40-feet clear-height modern warehouse distribution facility situated on 85.6 acres. The state-of-the-art facility was completed in 2020 and is 75 percent leased to Radial Inc. for a remaining lease term of 7.6 years, subject to contractual annual rent escalations.
