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ORLANDO, FL—Griffin Industrial Realty continues to make inroads in the local industrial market with this week's announcement that it had recently entered into two separate purchase and sale agreements with different sellers to acquire industrial/warehouse buildings. The properties are approximately 108,000 square feet and approximately 68,000 square feet, respectively.
Griffin says it intends to finance the purchase of these two buildings using its line of credit for acquisitions and cash on hand. Closings on these two purchases are each subject to the satisfactory completion of due diligence by Griffin, according to the firm. The larger of the two buildings is fully leased, whereas the smaller building is mostly vacant.
The agreement follows an Oct. 9 announcement that the company acquired a fully leased 100,000 sq. ft. industrial/warehouse building in Orlando.
Griffin indicated in its 2018 annual report, released on April 5 of last year, that it would be evaluating opportunities in the Southeast, as well as the Northeast and Middle Atlantic regions.
Griffin, which has operations in Bloomfield, Connecticut and New York City, primarily has industrial holdings in Connecticut, Massachusetts, Pennsylvania and North Carolina.
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