GREAT NECK, N.Y., Sept. 26, 2018 (GLOBE NEWSWIRE) -- One Liberty Properties, Inc. (NYSE: OLP), a real estate investment trust focused on net leased properties, today announced that it sold a land parcel located in Lakemoor, Illinois, which is ground leased to the owner/operators of the multi-family complex located on this parcel. The Company purchased this parcel for $9.6 million in March 2015 and anticipates that it will recognize, during the three months ending September 30, 2018, an approximate $4.5 million gain from this sale.

About One Liberty Properties:

One Liberty is a self-administered and self-managed real estate investment trust incorporated in Maryland in 1982. The primary business of the Company is to acquire, own and manage a geographically diversified portfolio consisting primarily of industrial, retail, restaurant, health and fitness and theater properties. Many of these properties are subject to long-term net leases under which the tenant is typically responsible for the property’s real estate taxes, insurance and ordinary maintenance and repairs.