Monday, July 14, 2014

REIT Purchases Fully Leased R&D Facility

Gramercy Property Trust purchased the flex facility at 175-205 Great Valley Pky. in Malvern, PA from Valley Forge Investment Corp. for $28.4 million, or about $149 per square foot. 

Built in 1981 on 12.9* acres in the Chester County Industrial submarket of Philadelphia, the 191,000-square-foot light manufacturing building is fully leased to a healthcare diagnostic company until 2030 on a triple-net basis. 

Gramercy Property Trust is a fully-integrated, self-managed REIT focused on acquiring and managing income-producing industrial and office properties net leased to high quality tenants in major markets throughout the United States.

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