Industrial

The two firms closed on the last property in the Northeast Logistics Portfolio—192 Mansfield Ave. in Norton, MA on Nov. 20.

The new distribution facility will be 1M square feet.

The Puget Sound area has many large corporations driving growth such as Boeing, Microsoft, Amazon, Starbucks and Costco, leading to construction of all building types.

"This acquisition continues the expansion of our nationwide industrial portfolio, which seeks to secure strong, income-oriented returns at this mature stage of the current real estate cycle,” says Brodie Ruland, ASB senior vice president and Northeast region head.  

GM also notes that in addition to the previously announced closure of its assembly plant in Gunsan, Korea, GM will cease operations at two additional plants outside North America by the end of 2019.

With the closing of this acquisition, GNL has closed 18 acquisitions for $393 million this year.