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Granite Announces Closing of Columbus, Ohio Portfolio Acquisition
Granite Announces Closing of Columbus, Ohio Portfolio Acquisition Canada NewsWire ...
About this update from Granite Real Estate Investment Trust
[{"type":"text","content":"\n\n\n\nGranite Announces Closing of Columbus, Ohio Portfolio Acquisition\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, May 23, 2018\n\n\n\nTORONTO, May 23, 2018 /CNW/ - Granite Real Estate Investment Trust (\"Granite\") (TSX: GRT.UN / NYSE: GRP.U) announced today that it has completed its acquisition of a 3.8 million square foot portfolio of four warehouse and logistics properties near Columbus, Ohio at a purchase price of US$232.5 million. The agreement to acquire the portfolio was previously announced on May 10, 2018. Additional details about each of the acquired properties can be accessed on Granite's website at http://www.granitereit.com/recentacquisitions/.\n\nIn addition, Granite announced today that to facilitate an intended expansion of approximately 300,000 square feet, Granite will invest an incremental US$18.75 million covering all construction costs, leasing commissions and tenant incentives. The intended expansion would increase the overall portfolio weighted average lease term to 7.6 years.\n\nABOUT GRANITE\n\nGranite is a Canadian-based REIT engaged in the acquisition, development, ownership and management of predominantly industrial, warehouse and logistics properties in North America and Europe. Granite owns 90 rental income properties representing approximately 34 million square feet of leasable area. Through the thoughtful deployment of its balance sheet and selective dispositions, Granite is continuing to build a high quality, globally diversified industrial real estate business.\n\nOTHER INFORMATION\n\nCopies of financial data and other publicly filed documents about Granite are available through the internet on the Canadian Securities Administrators' Systems for Electronic Document Analysis and Retrieval (SEDAR) which can be accessed at www.sedar.com and on the United States Securities and Exchange Commission's Electronic Data Gathering, Analysis and Retrieval System (EDGAR) which can be accessed at www.sec.gov. For further information, please see our website at www.granitereit.com or contact Michael For...