NEW YORK-American Realty Capital Trust IV Inc., based in New York, has closed on the acquisition of two FedEx Ground distribution facilities located in Independence, Kan. and Ottumwa, Iowa, as well as on the acquisition of a CVS pharmacy in New Castle, Pa. The aggregate purchase price of the properties was $8.6 million, exclusive of closing costs.
Taken together, the Fed Ex distribution facilities contain approximately 52,700 sq. ft. and both are 100 percent leased to a subsidiary of FedEx Corporation.
The CVS contains approximately 10,000 rentable sq. ft. and is 100 percent leased to CVS Caremark Corporation.
"ARCT IV has added two more national credit tenants to its portfolio during its initial acquisition phase," said Michael Weil, ARCT IV’s president and chief operating officer. "We couldn't be more pleased with these acquisitions as we build a strong net lease portfolio that is firmly in line with our investment objectives."