TOPEKA, KAN. — American Realty Capital Trust (ARCT), a New York-based non-traded REIT, has acquired a 465,600-square-foot distribution center located in Topeka from an affiliate of USAA Real Estate Co. The distribution center was completed this past October, and Home Depot subsequently signed a long-term lease for the building. It is situated within the 500-acre Central Crossing Commerce Park and features direct access to Interstate 70 and Highway 75.
Robert Rizzi, the managing director of New York City-based Broad Street Advisors, represented ARCT in the deal. Broad Street also helped arrange the acquisition financing, which was provided by the seller.
“This is the second Home Depot distribution facility that we have closed in as many months,” Rizzi said in a statement. “After negotiation of the first transaction, USAA offered a second facility that was nearly identical. Given ARCT's strong desire for freestanding, single-tenant assets that are net-leased on a long-term basis to investment-grade tenants, the second transaction was a natural fit. ARCT and its affiliate executed exceptionally on the deals — in each case, closing early — and has quickly become one of the more active purchasers of credit-tenant assets.”
— Coleman Wood