REBusinessOnline

Granite Acquires 4 MSF of Industrial Real Estate in Heartland for $246.1M

Pictured is 445 Airtech Parkway in Indianapolis.

INDIANA AND OHIO — Canada-based Granite Real Estate Investment Trust (NYSE: GRP.U) has acquired eight U.S. industrial properties totaling approximately 4 million square feet for $246.1 million. The buildings are fully leased to various tenants.

The Midwest properties include: 445 Airtech Parkway in Indianapolis; 5415 Centerpoint Parkway in Obetz, Ohio; 6201 Green Pointe Drive South in Groveport, Ohio; 8779 Le Saint Drive in Hamilton, Ohio; and 8754 Trade Port Drive in West Chester, Ohio. Granite also acquired three properties in the Southeast. These include: 4460 E. Holmes Road in Memphis, Tenn.; 4995 Citation Drive in Memphis, Tenn.; and 8650 Commerce Drive in Southaven, Miss.

The acquisitions are expected to close in the second quarter. Granite expects to fund the purchases using a combination of net proceeds from its recent equity offering and cash on hand. Granite’s portfolio consists of more than 90 properties totaling approximately 40.3 million square feet of leasable area.

Get more news delivered to your inbox. Subscribe to France Media's e-newsletters. Click here.



Related News

Webinars on Demand


Conferences


Read the Digital Editions

Heartland Recent Issue

Northeast Recent Issue

Southeast Recent Issue

Texas Recent Issue

Western Recent Issue

Shopping Center Business

California Centers

Ancillary Retail

Student Housing Business

Seniors Housing Business

Featured Properties