A portion of the purchase price was paid in cash and a portion by the assumption of a pre-existing mortgage of roughly $1.3 million. Jeffrey Fishman, president and CEO of One Liberty, a NY-based real estate investment trust, says that this acquisition is part of the REIT's strategy of "seeking opportunistic acquisitions of improved net leased real property leased to quality tenants."

Mark Lundy, vice president of One Liberty tells GlobeSt.com that this acquisition is the first purchase by the company in the Greater Boston area in recent years. He emphasizes that the company is "nationally oriented" and while it doesn't focus on any particular locale, "Boston is an area we like." Lundy points out that the company is always looking at properties, including dozens in the Boston area. He notes that this purchase is fairly standard for the company in that it is a net-leased, single-tenant property. The company also looks to acquire similarly structured office and industrial properties.