Nashville, TN One Liberty Properties, Inc. acquired two industrial properties for an aggregate purchase price of $11.8 million.
One Liberty acquired a 100,000 s/f industrial facility on 4.6 acres for $8 million. The property is leased to two tenants with leases expiring in 2023 and 2024. The current aggregate annual base rent under the leases is $519,000, with annual increases ranging from 3.0% to 3.5%. Zwanenberg Food Group d/b/a Vietti Foods Co. Inc. expanded to 75,000 s/f.
One Liberty acquired a 57,000 s/f industrial property on 3.1 acres located in Wauconda, Ill. for $3.8 million. The 32-ft. clear, class A building is net leased to Echo, Inc. The lease provides for an annual base rent of $278,000, with 3% annual increases through lease expiration in early 2024.
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