NEW YORK–(BUSINESS WIRE)–October 09, 2013–Gramercy Property Trust Inc. (NYSE:GPT), a real estate investment trust, announced today that it has closed the acquisition of an approximately 220,000 square foot food-grade cold storage and distribution facility located in Yuma, Arizona. Yuma County boasts the longest growing season in the country and is where 90% of the nation’s leafy vegetables are grown from November through March. The building is 100% leased through September 2033 to the leading organic food company in North America. Year 1 net operating income is approximately $1.4 million (8.0% initial cap rate, 9.25% GAAP cap rate) with fixed annual rent escalations throughout the lease term. The facility was acquired all-cash in a sale leaseback transaction.
Gina Swoboda considers run for Arizona secretary of state
February 5, 2026
Gina Swoboda speaking with attendees at the Restoring National Confidence Summit at Planet Hollywood in Las Vegas, Nevada. (Photo by Gage Skidmore) By Howard Fischer
