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NEW YORK CITY—Gramercy Property Trust Inc. has agreed to acquire a portfolio of four industrial properties for an aggregate purchase price of approximately $73.4 million plus transaction expenses. For the combined portfolio—totaling about 1.6 million square feet—year one of net operating income is anticipated to be approximately $6.6 million (9 % initial cap rate; 8.8% annualized straight-line cap rate) with a weighted average lease term of approximately 6.7 years.


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