ST. LOUIS—ElmTree Net Lease Fund II, a St.Louis-based firm, has just acquired five single-tenant net leaseinvestment properties for a total of $105.2 million. The industrialand office buildings are located across the US and currentlyoccupied under, or have commitments for, 10- to 15-year leaseagreements.

Three of the properties are build-to-suits, including a306,406-square-foot, industrial facility in Lafayette, IN. Uponcompletion, General Electric Co. will lease theproperty, which sits on 53.47 acres, and use it to house itssubsidiary GE Aviation. This will be its seventhaviation facility established in the US over the past seven years.It will operate a highly-advanced assembly line, GE officialssay.

The second build-to-suit is a 175,000-square-foot warehouse andoffice building located on the 12-acre TycoElectronics campus in Shakopee, a suburb of Minneapolisthat, as reported in GlobeSt.com, has attracted a significant amount of interest from net leaseinvestors. The project will have about20,000-square-feet of warehouse space, 35,000-square-feet of labspace and 120,000-square-feet of office space. ADCTelecommunications, Inc., a communications company thatwas acquired by Tyco Electronics in 2010, will lease the building.Tyco recently sold its existing building, so the roughly 350employees from that location will soon move into the newfacility.