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Essential IR Insights Newsletter - February 2023

Slate Retail to buy Ga. property for US$9.8M; Terreno pays $2.5M for Miami asset

This feature rounds up recent commercial property news and highlights larger deal coverage already published.

* Slate Retail REIT agreed to purchase Duluth Station in the Atlanta metropolitan statistical area for roughly US$9.8 million in a deal set to close in the third quarter. The Publix-anchored property is 81% occupied.

* Terreno Realty Corp. bought an industrial property at 2000 NW 70th Ave. in Miami for roughly $2.5 million, reflecting an estimated stabilized cap rate of 6.1%. The fully leased property comprises one industrial distribution building offering about 16,000 square feet on a 0.6-acre land parcel.

* Forest City Realty Trust Inc. sold a 20-acre site in Cleveland to EWAT Holdings LLC, which funded the acquisition with roughly $5.1 million in two loans, Crain's Cleveland Business reported, citing Cuyahoga County land records.

* Liberty Property Trust broke ground on a 220,000-square-foot industrial building in Hanover, Md., for conveyor belt maker Intralox, The Baltimore Sun reported. The company expects to complete the project next spring.

Additional coverage

Report: Acadia Realty, partner unload majority stake in NY rental tower

Report: AVR Realty sheds multifamily portfolio in $510M off-market deal

Brookfield Property obtains $784M loan to refinance One Liberty Plaza