NEW JERSEY—American Realty Capital Properties Inc. (ARCP) has acquired the French’s Mustard headquarters building in Chester, N.J. for $10 million. Currently 100 percent leased to French’s Mustard’s parent company, Reckitt Benckiser Group P.L.C., the original 10-year lease has nearly six years remaining.
The building contains approximately 32,000 rentable sq. ft. and represents the final purchase of 23 previously announced properties by ARCP since the close of the company's underwritten public offering in June.
"We are pleased to add this property to our portfolio, and will continue to seek accretive acquisitions such as this one which contributes yet another name brand to our stable of high quality tenants," commented Nicholas S. Schorsch, chairman and chief executive officer of ARCP.