Gramercy Property Trust has been making concerted efforts to benefit from the current e-commerce boom. In August 2017, the company had unveiled a joint venture in which it has a 51% stake, for acquisitions, ownership and management of newly constructed Class A, e-commerce distribution facilities throughout the United States. Recently, Gramercy announced the acquisition of four assets that were recognized in the initial portfolio.
Six newly-built Class A bulk distribution properties, spanning across 5.2 million square feet, are included in the initial portfolio for a total price of $537 million. The first pair of properties was closed in January 2018 for $178 million. The next set of two properties was closed in April 2018 for $181 million. However, the last pair of properties is currently under $179-million contract, which is expected to close between the last few months of 2018 and early 2019.
The buildings will be fully leased for usage by leading e-commerce company on an initial term of 15 years. Post that timeframe, the rent will annually grow 1.75-2.00%. The properties are spread across the following locations: Dallas, TX; Inland Empire, CA (2); Jacksonville, FL along with Southern NJ and Winchester, VA.
Notably, amid an e-commerce boom, growth in industries and companies opting for consolidation of operations for improving supply-chain efficiencies, and shifting closer to large population centers, demand for logistics infrastructure and efficient distribution networks have been increasing.
This is helping the industrial real estate market to grow while providing scope for REITs like Gramercy, Prologis Inc (PLD - Free Report) , DCT Industrial Trust Inc. and Liberty Property Trust to flourish. However, not all are poised to equally excel.
Currently, Gramercy carries a Zacks Rank #5 (Strong Sell). In addition, shares of Gramercy have edged down 15.5% in the past year, underperforming 4.8% decline recorded by the industry.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Gramercy Property Trust has been making concerted efforts to benefit from the current e-commerce boom. In August 2017, the company had unveiled a joint venture in which it has a 51% stake, for acquisitions, ownership and management of newly constructed Class A, e-commerce distribution facilities throughout the United States. Recently, Gramercy announced the acquisition of four assets that were recognized in the initial portfolio.
Six newly-built Class A bulk distribution properties, spanning across 5.2 million square feet, are included in the initial portfolio for a total price of $537 million. The first pair of properties was closed in January 2018 for $178 million. The next set of two properties was closed in April 2018 for $181 million. However, the last pair of properties is currently under $179-million contract, which is expected to close between the last few months of 2018 and early 2019.
The buildings will be fully leased for usage by leading e-commerce company on an initial term of 15 years. Post that timeframe, the rent will annually grow 1.75-2.00%. The properties are spread across the following locations: Dallas, TX; Inland Empire, CA (2); Jacksonville, FL along with Southern NJ and Winchester, VA.
Notably, amid an e-commerce boom, growth in industries and companies opting for consolidation of operations for improving supply-chain efficiencies, and shifting closer to large population centers, demand for logistics infrastructure and efficient distribution networks have been increasing.
This is helping the industrial real estate market to grow while providing scope for REITs like Gramercy, Prologis Inc (PLD - Free Report) , DCT Industrial Trust Inc. and Liberty Property Trust to flourish. However, not all are poised to equally excel.
Currently, Gramercy carries a Zacks Rank #5 (Strong Sell). In addition, shares of Gramercy have edged down 15.5% in the past year, underperforming 4.8% decline recorded by the industry.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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