Plymouth Industrial REIT has acquired two industrial properties in St. Louis, totaling 566,408 square feet, and one industrial property in Jacksonville, Fla., totaling 289,850 square feet for a total purchase price of $51.2 million.
Located in the downtown St. Louis market, Commerce Center I and II comprises two class A– industrial infill buildings totaling 487,150 square feet that are 100 percent leased to five tenants. The buildings were acquired for $27 million and are projected to provide an initial yield of approximately 7.2 percent.
The second property in St. Louis, located at 2326 Grissom Drive, comprises two class B industrial buildings totaling 79,258 square feet and is 100 percent occupied by a single tenant. Located in close proximity to St. Louis Lambert International Airport, the property was acquired for $3.7 million and is projected to provide an initial yield of approximately 7.5 percent.
The third asset is 8451 Western Way in Jacksonville, whi
