One Liberty Properties Increases Industrial Property Portfolio With $17.0 Million Purchase
12 Mai 2022 - 10:15PM
One Liberty Properties, Inc. (NYSE: OLP), an owner and manager of a
primarily industrial portfolio along with other net leased assets,
today announced that it acquired a 213,000 square foot industrial
building located in Dalton, Georgia for $17.0 million. The property
is leased through mid-2032 to Q.E.P. Co., Inc., a manufacturer and
distributor of flooring and installation solutions for commercial
and home applications. The net lease provides for an annual base
rent of approximately $883,000 with annual increases of 3.0%
beginning in 2023. The Class B facility, which was constructed in
1996, has good access to I-75, is located between Chattanooga and
Atlanta, features 24-foot through 31-foot clear heights in the
warehouse and 25 loading-dock doors. The Company anticipates it
will obtain $10 million of ten-year mortgage debt, at an interest
rate of 3.50% and amortizing over 30 years, on this property.
Patrick J. Callan, Jr., President and Chief Executive Officer of
One Liberty, commented, “We are excited to add yet another
high-quality asset to our growing portfolio of industrial
properties. With this we have added over $1.3 million of new rent
through industrial acquisitions thus far during 2022. We continue
to be disciplined and opportunistic in our approach to capital
deployment and consider this transaction as a great example of how
we execute on our strategy to deliver long term value to our
stockholders.”
Forward Looking Statement:
Certain information contained in this press release, together
with other statements and information publicly disseminated by One
Liberty Properties, Inc. is forward looking within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities and Exchange Act of 1934, as amended. One
Liberty intends such forward looking statements to be covered by
the safe harbor provision for forward looking statements contained
in the Private Securities Litigation Reform Act of 1995 and include
this statement for the purpose of complying with these safe harbor
provisions. Factors that could cause actual outcomes or other
events to differ materially from any such forward looking
statements appear in the Company's Annual Report on Form 10-K for
the year ended December 31, 2021 and the Quarterly Reports on Form
10-Q filed thereafter and in particular, the sections of such
reports entitled “Risk Factors” and “Management Discussion and
Analysis of Financial Condition and Results of Operations.” You
should not rely on forward looking statements since they involve
known and unknown risks, uncertainties and other factors which are,
in some cases, beyond our control and which could materially affect
actual results, performance or achievements.
About One Liberty Properties:
One Liberty is a self-administered and
self-managed real estate investment trust incorporated in Maryland
in 1982. The Company acquires, owns and manages a geographically
diversified portfolio consisting primarily of industrial
properties. Many of these properties are subject to long-term net
leases under which the tenant is typically responsible for real
estate taxes, insurance and ordinary maintenance and repairs.
Contact:One Liberty PropertiesInvestor
RelationsPhone: (516) 466-3100www.onelibertyproperties.com
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