St. Louis-based ElmTree Net Lease Fund II has acquired five single-tenant net-lease investment properties worth a total of $90.3 million. All properties are occupied under or have commitments for 10- to 15-year lease agreements.
One of the acquisitions is a 34.4-acre industrial property in Fort Wayne, Ind. This property will be leased to BAE Systems Controls as a light-assembly and warehousing facility. The build-to-suit project will consist of the development and construction of an about 333,750-square-foot manufacturing building.
ElmTree has also acquired four office properties in Ohio, South Carolina, Minnesota and Alabama.
Among these is a 100,800-square-foot single-tenant facility in Columbus. The building sits on almost 10 acres and is occupied by Alliance Data Systems, which has occupied the property since 1991.
