Subsidiaries of the operating partnership of Boston-based Plymouth Industrial REIT, Inc. have completed the acquisition of 13 industrial properties located in Illinois, Ohio and Tennessee.
The properties consist of an aggregate of approximately 2.63 million rentable square feet and were acquired for an aggregate purchase price of approximately $95.6 million.
Acquisition of Venture One Portfolio
This portfolio consists of six industrial properties located in the Chicago, Illinois metropolitan area. The properties consist of six industrial buildings with approximately 486,200 rentable square feet and is 100% leased under triple net and modified gross leases.
Acquisition of Garrity Malkin Portfolio
This portfolio consists of four industrial properties located in Columbus, Ohio and Memphis, Tennessee. The properties consist of six industrial buildings with approximately 633,700 rentable square feet and are approximately 97% leased under triple net leases.
Acquisition of Pier-One Property
This industrial property is located in Columbus, Ohio, has approximately 527,100 rentable square feet and is 100% leased under triple net leases.
Acquisition of Creekside Property
This industrial property is located in Columbus, Ohio, has approximately 340,000 rentable square feet and is 100% leased under triple net leases.
Acquisition of Perseus Property
This industrial property is located in Jackson, Tennessee, has approximately 638,400 rentable square feet and is 100% leased under triple net leases.
Plymouth Industrial REIT is focused on the acquisition and management of single and multi-tenant Class B industrial properties, primarily located in secondary and select primary markets across the Eastern half of the U.S. and Texas. The Company conducts business through an UPREIT structure in which its properties are owned by Plymouth Industrial OP, LP, a Delaware limited partnership, directly or through wholly-owned subsidiaries of the operating partnership.
