Medley Sites Trade For $580,000 Per Acre

Gramercy Property Trust Inc., a real estate investment trust, announced late last week that it closed the acquisition of three auto salvage sites totaling approximately 30 acres in Medley.
The properties are 100% leased through July 2022 to a subsidiary of a large publicly-traded global provider of replacement auto and truck parts.
The sites was acquired all-cash for a purchase price of approximately $17.3 million, or $580,000 per acre.