The portfolio is currently 97% leased. The acquisition price wasnot disclosed. "The buildings are quality, infill buildings thatserve small to mid-size tenants all located within close proximityto Interstate 95," KTR vice president PJ Charlton tellsGlobeSt.com. "They were acquired at below replacement cost."
The properties were acquired from the locally based Leder Group.Charlton says KTR has retained the Leder Group to continue leasingand managing the properties. He adds that there are no immediateplans to make capital improvements to the properties.
With the acquisition, KTR's Florida portfolio is more than 2.5million sf. "South Florida is a core market for KTR and we willcontinue to seek additional acquisition and developmentopportunities in the industrial arena," Charlton says.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 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.
