BALTIMORE, MD—Denver, CO-based Industrial Property Trust picked up a trio of warehouses here for $27 million, according to a Securities and Exchange Commission filing. Specifically, a wholly-owned subsidiary of the REIT has entered into a purchase agreement to buy the 100% fee interest in three industrial buildings located in the Baltimore/ D.C. corridor that total approximately 429,000 square feet and are located on 22 acres.
The buildings are 98% leased to 15 customers with a weighted-average remaining lease term of 2.8 years, according to the filing.
Industrial Property also reported an acquisition in Chicago, in a separate filing on the same day. It has entered into a purchase agreement to buy the 100% fee interest in one building located totaling approximately 249,000 square feet on 23.8 acres for $27.1 million.
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