Canada's Granite REIT wrapped up its US$232.5 million purchase of a 3.8 million-square-foot portfolio of four warehouse and logistics properties near Columbus, Ohio.
The seller of the portfolio was earlier identified as industrial real estate investment trust Duke Realty Corp.
Granite said it will spend an additional US$18.8 million to expedite a planned expansion of roughly 300,000 square feet that would lift the overall portfolio weighted average lease term to 7.6 years.
