A net-lease CEO has been sounding a warning bell about what he sees as puzzling deals being inked for office and industrial net-lease properties. Gramercy Property Trust Inc.’s Gordon DuGan says such deals often have two flaws. To start with, some investors fail to take into account the consequences of an office building converting from a single-tenant to a multi-tenant property at some point, which can often result in “substantial loss.” For a building customized for a ...

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