Gramercy Property Trust Acquires Two Industrial Buildings in Metro Atlanta for $12.5M

by John Nelson

NORCROSS, GA. — Gramercy Property Trust Inc., a publicly traded REIT, has purchased two industrial buildings totaling 222,100 square feet in Norcross, a suburb of Atlanta in Gwinnett County. The properties were acquired all-cash for a purchase price of $12.5 million and have a weighted average remaining lease term of 8.9 years. One of the warehouses spans 142,100 square feet and is leased to a producer, servicer and supplier of diesel and gasoline engines. The second warehouse, comprising 80,000 square feet, is leased to the country’s largest distributor of tools, equipment and machinery to the stone fabrication industry.

You may also like