NEW YORK CITY—Gramercy Property Trust Inc. said Tuesday afternoon that it has agreed to buy adozen single-tenant net lease properties fromDividend Capital Diversified Property Fund Inc.for approximately $399 million, including the assumption of $142million of existing secured debt. Spanning the office, industrialand data center asset classes, the 2.67-million-square-footportfolio is located mainly in the Los Angeles and Dallas suburbs,with other properties in Houston, the Denver and Miami metro areas,Illinois, Ohio and Northern New Jersey.

GPT says the portfolio is 100% leased, with a weighted-averagelease term of about 6.7 years. That average will be bumped up toeight years if DPF's current negotiations to extend and restructuretwo of the leases are successful.

In an SEC filing Wednesday, GPT identified the properties in theDPF portfolio. A data center at 1920 E. Maple Ave. in El Segundo,CA is the highest-priced of the 12 assets at $58.2 million. Thereare three other Southern California properties in the portfolio:3701 Doolittle Dr. in Redondo Beach; 5200 Sheila St. in Commerce;and 2000 Corporate Center Dr. in Thousand Oaks.