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One Liberty Acquires $32M Industrial Asset

BALTIMORE-The tenant signed a 15-year lease for the facility before One Liberty purchased the property.

By Erika Morphy | Updated on January 03, 2007

(To read more on the industrial market, click here.)

BALTIMORE-A subsidiary of One Liberty Properties has acquired an industrial property here from a Delaware limited liability company called FR Hollins Ferry LLC for $32.2 million. The building, a 367,000-sf facility consisting of grade level space, sits on approximately 28 acres and is located at 4501 Hollins Ferry Rd.

One Liberty Properties acquired the building which is already net leased to Ferguson Enterprises, a distributor of plumbing supplies and heating and cooling equipment. Mark Lundy, senior vice president with One Liberty, tells GlobeSt.com that Ferguson’s lease is set to expire in 2022. The tenant is making improvements to the facility, reconfiguring it to its own use. Lundy did not know the dollar amount of the improvements.

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