Gramercy Capital Corp. Announces Acquisitions of Industrial Properties in Dallas, TX & East Brunswick, NJ Totaling $22.4 Mill...
April 01 2013 - 4:14PM
Business Wire
Gramercy Capital Corp. (NYSE: GKK) announced today that
it recently closed on two property acquisitions. The first is an
approximately 342,000 square foot industrial building located in
Garland, Texas, for a purchase price of approximately $10.70
million in an all-cash transaction. The building is 100% leased to
a single tenant through 2032. The second is a 101 dock door truck
terminal on a 16.25-acre site located two miles from I-95 in East
Brunswick, New Jersey, for a purchase price of approximately $11.65
million in an all-cash transaction. The terminal is 100% leased to
a single tenant through 2019.
Company Profile
Gramercy Capital Corp. is a self-managed, integrated commercial
real estate investment and asset management company. The Company
owns, directly or in joint venture, a portfolio of 113 office and
industrial buildings totaling approximately 5.6 million square
feet, net leased on a long-term basis to tenants, including Bank of
America, Nestlé Waters, Philips Electronics and others. The
Company’s property management business, operating under the name
Gramercy Asset Management, currently manages for third-parties,
approximately $1.7 billion of commercial properties leased
primarily to regulated financial institutions and affiliated users
throughout the United States. The Company is headquartered in New
York City and has regional offices in Jenkintown, Pennsylvania, and
St. Louis, Missouri.
To review the Company’s latest news releases and other corporate
documents, please visit the Company's website at www.gkk.com or
contact Investor Relations at 212-297-1000.
(GKK-EN)
Forward-Looking Information
This press release contains forward-looking information based
upon the Company's current best judgment and expectations. Actual
results could vary from those presented herein. The risks and
uncertainties associated with forward-looking information in this
release include, but are not limited to, factors that are beyond
the Company's control, including implementation of the Company’s
new business strategy, integration of the new management team and
those factors listed in the Company's Annual Report on Form 10-K
and in the Company's Quarterly Reports on Form 10-Q. The Company
undertakes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise. For further information, please refer to the
Company's filings with the SEC.
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