Chambers Street Properties (NYSE: CSG), a net lease industrial and office real estate investment trust, announced a new long-term lease for 342,096 square feet at its Community Cash Complex warehouse/distribution property in Spartanburg, South Carolina. The Company owns more than 3.6 million square feet of warehouse/distribution properties in South Carolina.
The 10-year lease with Rank Distributors, Inc., a global sourcing service for the hospitality industry, covers two buildings in the five-building complex.
“We continue to see solid interest in the Spartanburg market from a broad range of logistics and supply chain tenants, and this property’s location and ease of access to Interstates 26 and 85 are attractive to many prospective tenants,” said Glenn Wylie, Assistant Vice President, Portfolio Management, Chambers Street.
Community Cash Complex is a five-building warehouse/distribution property totaling 552,000 square feet located in the strategic logistics market of Spartanburg. The property is conveniently located 14 miles east of the South Carolina Inland Port in Greer, South Carolina, a new $47 million intermodal facility which will allow the transfer of container traffic to and from the Port of Charleston by rail and truck.
About Chambers Street Properties (NYSE: CSG)
Chambers Street is a leading net lease industrial and office real estate investment trust that focuses on acquiring, owning and operating high-quality warehouse/distribution and office properties leased to creditworthy tenants.
Chambers Street’s $3.3 billion portfolio (at cost) comprised 129 properties, encompassing 34.2 million rentable square feet as of June 30, 2013.
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