Gladstone Commercial (GOOD) said Thursday that it acquired a 215,474-square-foot Class A industrial manufacturing facility in Houston, Texas, with a weighted GAAP capitalization rate of 8.31%.
The company said the property, featuring modern construction and crane-served capabilities, was purchased through a long-term sale-leaseback agreement with a 10-year absolute NNN lease.
The facility is fully leased to CSE W-Industries, a US subsidiary of CSE Global, the company added.
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