Gramercy Property Trust Announces Acquisition of a $7.0 Million Industrial Property in Atlanta

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NEW YORK -- Gramercy Property Trust Inc. (NYSE:GPT), a real estate investment trust, announced today that it closed the acquisition of an approximately 204,000 square foot warehouse and distribution facility located in Morrow, Georgia (Atlanta MSA). 

The property is 100% leased through December 2019 to a global sourcing company for stainless steel and alloy material. Year 1 net operating income is approximately $506,360 (7.2% initial cap rate; 7.6% annualized straight-line cap rate) with annual rent escalations throughout the term. The property was acquired all-cash for a purchase price of approximately $7.0 million.

About Gramercy Property Trust
Gramercy Property Trust Inc. is a fully-integrated, self-managed commercial real estate investment company focused on acquiring and managing income-producing industrial and office properties net leased to high quality tenants in major markets throughout the United States. The Company also operates a commercial real estate asset and property management business for third parties.

To review the Company's latest news releases and other corporate documents, please visit the Company's website atwww.gptreit.com or contact Investor Relations at 212-297-1000

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