Gramercy Bulks Up Portfolio with Four Deals

NEW YORK CITY-Gramercy Property Trust Inc. said Monday it has closed on four net leased industrial properties in the Southwest, Southeast and Mid-Atlantic regions with a combined purchase price of about $82 million. They include a pair of cross-dock truck terminals in Houston and Orlando, a wholesale automotive auction facility in the Dallas/Fort Worth metro area and an industrial cold storage facility in South Jersey. Sellers, tenants and property addresses were not disclosed.

Largest of the four deals was $58.5 million, including the assumption of $26.3 million in first mortgage debt, for an auction facility on 175 acres in Hutchins, TX. Net leased through June 2029 to one of the largest wholesale car auction companies in the US, the facility is about two miles from the Dallas Intermodal Terminal.