A subsidiary of Industrial Property Trust Inc. has entered into an agreement to acquire a 100% fee interest in the Medley Distribution Center, an industrial building on 2.1 acres totaling 41,000 square feet.
The seller was ProLogis-A4 FL I LLC.
The building is 100% leased to one tenant with a remaining lease term of 3.1 years.
The total aggregate purchase price is expected to be approximately $4.1 million, exclusive of transfer taxes, due diligence expenses, and other closing costs.
The acquisition of the Medley Distribution Center is expected to close during the second quarter of 2014.
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