Chambers Street Properties Announces Acquisition Of Industrial Portfolio

(RTTNews) - Chambers Street Properties (CSG), a real estate investment trust, announced the acquisition of a four property, 1,644,480 square foot industrial portfolio located in the Northeast Pennsylvania industrial market along I-81 for $105.7 million.

The portfolio is 100 percent net leased with annual rental increases ranging from 2.0 percent to 2.5 percent and has a weighted average remaining lease term of 3.6 years.

Over 90 percent of current annualized base rent is derived from investment grade rated tenants. The portfolio is occupied by six tenants, including one of the world's largest internet retailers and a multi-national paper products company.