BALTIMORE, MD—Denver, CO-based Industrial PropertyTrust picked up a trio of warehouses here for $27million, according to a Securities and ExchangeCommission filing. Specifically, a wholly-owned subsidiaryof the REIT has entered into a purchase agreement to buy the 100%fee interest in three industrial buildings located in theBaltimore/ D.C. corridor that total approximately 429,000square feet and are located on 22 acres.
The buildings are 98% leased to 15 customers with aweighted-average remaining lease term of 2.8 years, according tothe filing.
Industrial Property also reported an acquisition in Chicago, ina separate filing on the same day. It has entered into a purchaseagreement to buy the 100% fee interest in one building locatedtotaling approximately 249,000 square feet on 23.8 acres for$27.1 million.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
