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Artis REIT details property transactions in Arizona, Colorado and Minnesota

Artis Real Estate Investment Trust recently acquired four industrial properties and sold an office building in Arizona, Colorado and Minnesota.

The company acquired three multitenant industrial properties, two of which are in greater Phoenix and the other in greater Denver, for US$40 million in cash. The portfolio encompasses 379,487 square feet of leasable area and is 92.5% occupied.

The company also acquired the Clearwater Creek Distribution Center, a 402,522-square-foot single-tenant industrial warehouse in Lino Lakes, Minn., for US$26.9 million in cash. The building is fully leased for 15 years.

Artis sold the 106,418-square-foot Humana Building in Glendale, Ariz., for US$19.1 million, with the deal expected to close Jan. 23, 2018.