March 10, 2020
Arch Street Capital Advisors and VEREIT acquired DHL Supply Chain’s North American headquarters in Westerville, OH, near Columbus. Deal terms weren’t disclosed.
The property, located within the recently developed Westar Place Business Park, is a build-to-suit, 145,000-square-foot office building.
The acquisition is part of Arch Street and VEREIT’s new programmatic venture focused on the acquisition of long-term leased, single-tenant office assets. The partnership, which was formed with Arch Street’s institutional client, Gatehouse Capital of Kuwait, has acquired approximately $120.8 million of assets to date, with an additional $49.8 million of assets identified for acquisition in early 2020.
“We continue to search for high quality, mission-critical, long-term leased assets as part of our platform, and are pleased with the successful closing of another high-quality asset to enhance our portfolio,” said Thomas W. Roberts, EVP and CIO at VEREIT.
For comments, questions or concerns, please contact Paul Bubny