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Gramercy Europe Acquires €17 Million Cold Storage Facility in Breda, Netherlands

NEW YORK--(BUSINESS WIRE)--Gramercy Property Trust Inc. (NYSE:GPT), a real estate investment trust, announced today that Gramercy Property Europe plc (the Fund) closed on the acquisition of a cold storage logistics facility totaling 121,000 square feet located in Breda, Netherlands. Constructed in 2009, the asset is currently undergoing an expansion of 85,000 square feet which is scheduled for completion in December. The building is leased through 2025 to Mooy Logistics B.V., a third party logistics and transportation company that specializes in the warehousing of fruits, vegetables and flowers. The facility, including the expansion, was acquired for approximately €17 million.

“This transaction is another excellent example of our mandate to acquire single-tenant, high quality properties...