Your Commercial Real Estate Source in the San Francisco Bay Area
By Alex Finkelstein
Realty Income Buying 33 Properties Totaling 3.8 Million SF in 17 States for $544 Million
In the biggest California commercial real estate deal of the year to date, Esondido, CA-based Realty Income Corp., known as The Monthly Dividend Company has contracted to buy 33 properties totaling 3.8 million square feet of leasable space in 17 states for $544 million.
The properties are single-tenant, retail, distribution, office and manufacturing properties under long-term, net-lease contracts.
In a prepared statement, the company says the majority of the properties will close during the first half of 2011.
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