DALLAS—ElmTree Net Lease Fund II based in St. Louis recently acquired two industrial buildings, totaling $26.5 million in Dallas, Texas.

ElmTree purchased a 150,975-square-foot industrial facility at 2717 S. Main St. within the Dallas-Fort Worth Airport for $14.8 million. The building is currently occupied by Sikorsky Aircraft Corp. under a 10-year lease agreement that began in 2009. Sikorsky retains an option to develop 150,000 square feet subject to a 40-year ground lease.

Stratford, Connecticut-based Sikorsky Aircraft Corp., a subsidiary of United Technologies Corp., specializes in helicopter design, manufacture, and service.

Additionally, ElmTree acquired a 72,056-square-foot building for $11.65 million. The property is located on a 4.24-acre site leased from the Dallas-Fort Worth Airport Authority.

Hitachi High Technologies America occupies the facility through a 10-year lease agreement that has nine years remaining. The manufacturing and development facility produces microchips and for Hitachi.

ElmTree Funds, LLC is a private equity investment firm with offices and affiliates in Charlotte and New York, focusing on the commercial sale leaseback and net lease real estate markets.