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Gramercy Doubles Down On E-Commerce With New JV, $1.1 Billion in Logistics Acquisitions

Transactions With Undisclosed Sellers, Joint Venture Partner Raises REIT's Proportion of Industrial Properties to 78%
By CoStar News Staff
August 23, 2017 | 8:08 P.M.

by Randyl Drummer and Bryce Meyers Gramercy Property Trust (NYSE: GPT), stepping up efforts to become a pure-play industrial landlord with a strong position in e-commerce logistics, announced two major transactions in the span of an hour to acquire 48 warehouse and logistics properties totaling 13.8 million square feet for a combined $1.1 billion in key logistics markets across the U.S.

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