NEW YORK CITY-American Realty Capital Trust, based here, has closed on the acquisition of 11 net-leased retail properties, part of a 12-asset portfolio being marketed by Grubb & Ellis. Published reports say the 12th property, a 92,800-square-foot data center in the Denver suburb of Broomfield, CO, sold to Columbia Industrial Properties Midwest, a subsidiary of the Liberty Advisory Group.

Grubb & Ellis did not identify the portfolio’s seller, a private investor. However, published reports say that Grubb marketed the assets on behalf of the California State Automobile Association Inter-Insurance Bureau. A source familiar with the portfolio buy tells GlobeSt.com the 11 retail properties fetched a total of $65 million; a report in the Boulder, CO Daily Camera says the data center at 11525 Main St. in Broomfield traded for $12.85 million, or about $139 per square foot. It is net leased to TIAA-CREF.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.