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.
© 2014 Real Estate Communications Group. Duplication or reproduction of this article not permitted without authorization from the Real Estate Publishing Group. For information on reprint or electronic pdf of this article contact Mark Menzies at 312-644-4610 or firstname.lastname@example.org