Increase Characteristics of One Freedom – GuruFocus.com

GREAT NECK, New York, May 12, 2022 (GLOBE NEWSWIRE) — One Liberty Properties, Inc. (:OLP), owner and manager of a primarily industrial portfolio along with other net leased assets, today it has acquired 213,000 square metres. Foot industrial building located in Dalton, Georgia for $17.0 million. The property is leased until mid-2032 to QEP Co., Inc. Manufacturer and distributor of flooring and installation solutions for commercial and home applications. The net lease provides for an annual base rent of approximately $883,000 with annual increases of 3.0% beginning in 2023. The Class B facility, established in 1996, has good access to I-75, between Chattanooga and Atlanta, and features 24 – foot through clear heights of 31 feet in warehouse and 25 loading dock doors. The company anticipates that it will receive $10 million in ten-year mortgage debt, with an interest rate of 3.50% and an amortization of over 30 years, on this property.

Patrick J. Callan Jr., President and CEO of One Liberty commented: “We are excited to add other high-quality assets to our growing portfolio of industrial properties. With this, we have added more than $1.3 million in new leasehold through industrial acquisitions to date. through 2022. We remain disciplined and differentiated in our approach to capital deployment and view this transaction as a great example of how we are implementing our strategy to deliver long-term value to our shareholders.”

Forward-looking statement:

Certain information contained in this press release, along with other data and information published by One Liberty Properties, Inc. Looking forward within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. One Liberty intends to cover such forward-looking statements by providing a safe harbor to the forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and by including this statement for the purpose of complying with these safe harbor terms. Factors that could cause actual results or other events to differ materially from any such forward-looking statements are shown in the company’s annual report on Form 10-K for the year ended December 31, 2021 and quarterly reports on Form 10-Q submitted thereafter and in full In particular, the sections of these reports are titled “Risk Factors” and “Discussion of management and analysis of financial condition and results of operations.” You should not rely on forward-looking statements because they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond our control and could materially affect actual results, performance or achievements.

About One Liberty Real Estate:

one freedom is a self-administered and managed real estate investment trust incorporated in Maryland in 1982. The company has a geographically diversified portfolio consisting primarily of industrial, owned and operated real estate. Many of these properties are subject to long-term net leases under which the tenant is usually responsible for property taxes, insurance, maintenance, and regular repairs.

Contact:
Liberty One Characteristics
Investor Relations
Phone: (516) 466-3100
www.onelibertyproperties.com


One-Liberty-Properties-Inc-.png

Leave a Reply

%d bloggers like this: