Market Overview

CapLease Completes $18.1M Purchase of Class A Office Building

Share:
Related LSE
American Realty Capital Properties, American Realty Capital Trust IV Announce Amended Merger Agreement
American Realty Capital Properties to Close CapLease Merger in Q3 2013

CapLease, Inc. (NYSE: LSE) announced today that it closed in December 2012, the previously announced acquisition of an $18.1 million office building, located in San Antonio, Texas. Inclusive of this purchase, the Company's 2012 acquisition volume exceeds $185 million.

The approximately 96,000 square foot Class A office building is leased to two single A rated large corporate tenants. Approximately 71% of the square footage in the building is leased through May 2021 to Becton, Dickinson and Company (S&P/Moody's: A/A3). The remaining square footage in the building is leased through October 2022 to United Healthcare Services, Inc., a subsidiary of UnitedHealth Group Incorporated (S&P/Moody's: A/A3). CapLease's average capitalization rate for the property is approximately 9.0%.

Posted-In: News

 

Related Articles (LSE)

View Comments and Join the Discussion!

Get Benzinga's Newsletters