One Liberty Properties Adds To Industrial Property Portfolio With $13.4M Purchase
Portfolio Pulse from Benzinga Newsdesk
One Liberty Properties, Inc. (NYSE:OLP) has acquired a 177,040 square foot industrial distribution center in a suburb of Columbia, South Carolina for $13.4 million. The price includes the assumption of $4.3 million of mortgage debt. The property is leased to two tenants, providing an aggregate annual base rent of approximately $784,000, increasing approximately 3% annually. The company believes this acquisition will contribute to future cash flow growth.
July 13, 2023 | 8:14 pm
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POSITIVE IMPACT
One Liberty Properties' acquisition of a new industrial property is expected to contribute to future cash flow growth. The property's leases, which are currently below-market, present an opportunity for increased revenue in the near term.
The acquisition of the industrial property by One Liberty Properties is a strategic move that is expected to contribute to the company's future cash flow growth. The property's leases are currently below-market, which presents an opportunity for increased revenue in the near term. This is likely to have a positive impact on the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100