Gramercy Property Trust buys 112,000-square-foot industrial property in Elgin

May 07, 2014  |  Staff Writer  |  Print Article  |  Email this Article

Gramercy Property Trust, a real estate investment trust, has acquired in two separate transactions a pair of industrial buildings totaling about 295,000 square feet. Gramercy paid about $18.7 million for for the properties, one of which is located in the Chicago suburb of Elgin, Ill.

The Elgin property is a 112,000-square-foot manufacturing facility that is leased through August of 2028 with annual rent escalations to a global manufacturer of metal components.

The second property, a 183,000-square-foot industrial warehouse in Harrisburg, Penn., is leased through February of 2025.

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