May 21, 2018
Global Net Lease (GNL), Inc. closed on the acquisition of five industrial assets totaling roughly 1.4 million square feet for $83 million. The five buildings are leased to a leading steel service supplier with products and services provided to clients throughout the Midwestern U.S. and Canada, and have a weighted-average remaining lease term of 10 years.
This transaction strengthens GNL’s already strong Midwest presence. Three of the buildings are located in Michigan, one is in Ohio and one is in Indiana.
The properties were part of a $293-million round of acquisitions announced earlier in 2018, with $146.4 million closed to date. GNL funded the transactions with borrowings under its revolving credit facility.
*Pictured 3655 Amrhein Road Livonia, MI
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