NEW YORK--(BUSINESS WIRE)--Gramercy Property Trust (NYSE:GPT), a real estate investment trust, announced today that it closed four separate transactions of four single tenant industrial properties in the Miami MSA, Atlanta MSA and Chicago MSA aggregating $60.4 million.

The first transaction was a sale and lease back of a 123,100 square foot warehouse and headquarters facility leased to an automobile parts distributor located in Miami, Florida.

The second transaction was a newly constructed 166,200 square foot distribution facility leased to a luxury apparel retailer located in Ball Ground, Georgia (Atlanta MSA).

The third transaction was a sale and lease back of a warehouse and distribution facility totaling 546,450 square feet located in Romeoville, Illinois (Chicago MSA). The building is leased to a distributor of natural, organic and specialty food products to retailers across the United States and Canada.

The fourth transaction, located in Lake Zurich, Illinois (Chicago MSA), is a 146,500 square foot headquarters and light manufacturing facility leased to a commercial-grade coffee brewing equipment and related accessories company.

Aggregate year 1 net operating income of the properties will be approximately $4.5 million (7.5% initial cap rate; 8.3% annualized straight-line cap rate) with a weighted average remaining lease term at closing of 11.1 years.

About Gramercy Property Trust

Gramercy Property Trust is a leading global investor and asset manager of commercial real estate. The Company specializes in acquiring and managing single-tenant, net-leased industrial and office properties. The Company focuses on income producing properties leased to high quality tenants in major markets in the United States and Europe.