Thompson National Properties, through its Strategic Retail Trust and two other funds, is set to close on four office and retail acquisitions and an industrial sale totaling nearly $110 million.

The acquisitions include a portfolio of three Orange County, CA office buildings along with retail deals in Hawaii, Texas and Arizona-all markets where TNP is on the lookout for further acquisitions, along with Florida and Nevada. The industrial disposition is a single-tenant property in the Washington, DC area that is leased to a defense industry firm. The company is selling the property for $16.5 million on behalf of tenant-in common investors.

Tony Thompson, chairman and CEO of TNP, shares that the company is buying the Orange County office portfolio for roughly $55 million at a 9%-plus cap rate from a distressed seller via Thompson's participating notes program. The office portfolio is about 80% occupied and is cash-flowing at that occupancy, but it holds potential for higher occupancy despite the weak Orange County office market, according to Thompson. He explains that many of the tenants in the portfolio are government agencies, and one of the three buildings is especially well-suited to being upgraded to LEED standards.