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One Liberty Properties Gains $4.5M From Land Parcel Sale
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One Liberty Properties, Inc. (OLP - Free Report) recently announced that it has sold a land parcel situated in Lakemoor, IL. The company expects to recognize approximately $4.5 million in gains from this sale.
Profit from the land sale will be recognized during the three-month period ending Sep 30, 2018. Notably, the land parcel is under ground lease, and rented to the owner/operator of the multi-family complex located on the parcel.
In March 2015, the company shelled out $9.6 million for the purchase of the parcel.
One Liberty Properties is a real estate investment trust (REIT) that focuses on net leased properties. Of late, the company has been making immense efforts to optimize its portfolio. Further, the company is focused on expanding its industrial real estate portfolio.
In fact, this June, the company announced the acquisition of an 82,565-square-foot industrial/warehouse building situated in Plymouth, MN, for $5.5 million.
In its second-quarter 2018 earnings release, management noted that the rising demand for industrial space and distribution facilities is stemming from the evolving trend of consumer goods being directly shipped to retail consumers. Hence, the company is leveraging on this trend and repositioning its portfolio.
Notably, demand for modern distribution and logistics facilities has been getting a significant boost as companies are compelled to enhance, and renovate their distribution and production platforms to support e-commerce business, address a large customer base, and urbanization. Services like same-day delivery are gaining traction and last-mile properties are witnessing a solid increase in asset values.
Furthermore, robust growth in recent times, owing to a healthy manufacturing environment amid higher consumer spending and recovering job market, keeps the outlook for this asset category favorable. This is opening up growth opportunities for industrial REITs, including Prologis, Inc. (PLD - Free Report) , Duke Realty Corporation and Liberty Property Trust .
As for One Liberty Properties, expansion of its industrial real estate portfolio is a strategic fit. Also, dispositions of non-core assets will likely render financial power to the company to fund these acquisitions.
Additionally, shares of this Zacks Rank #3 (Hold) company have outperformed the industry, over the past three months. In fact, its shares have gained 3.5%, as against the industry’s decline of 1.7% during the same time frame.
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
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One Liberty Properties Gains $4.5M From Land Parcel Sale
One Liberty Properties, Inc. (OLP - Free Report) recently announced that it has sold a land parcel situated in Lakemoor, IL. The company expects to recognize approximately $4.5 million in gains from this sale.
Profit from the land sale will be recognized during the three-month period ending Sep 30, 2018. Notably, the land parcel is under ground lease, and rented to the owner/operator of the multi-family complex located on the parcel.
In March 2015, the company shelled out $9.6 million for the purchase of the parcel.
One Liberty Properties is a real estate investment trust (REIT) that focuses on net leased properties. Of late, the company has been making immense efforts to optimize its portfolio. Further, the company is focused on expanding its industrial real estate portfolio.
In fact, this June, the company announced the acquisition of an 82,565-square-foot industrial/warehouse building situated in Plymouth, MN, for $5.5 million.
In its second-quarter 2018 earnings release, management noted that the rising demand for industrial space and distribution facilities is stemming from the evolving trend of consumer goods being directly shipped to retail consumers. Hence, the company is leveraging on this trend and repositioning its portfolio.
Notably, demand for modern distribution and logistics facilities has been getting a significant boost as companies are compelled to enhance, and renovate their distribution and production platforms to support e-commerce business, address a large customer base, and urbanization. Services like same-day delivery are gaining traction and last-mile properties are witnessing a solid increase in asset values.
Furthermore, robust growth in recent times, owing to a healthy manufacturing environment amid higher consumer spending and recovering job market, keeps the outlook for this asset category favorable. This is opening up growth opportunities for industrial REITs, including Prologis, Inc. (PLD - Free Report) , Duke Realty Corporation and Liberty Property Trust .
As for One Liberty Properties, expansion of its industrial real estate portfolio is a strategic fit. Also, dispositions of non-core assets will likely render financial power to the company to fund these acquisitions.
Additionally, shares of this Zacks Rank #3 (Hold) company have outperformed the industry, over the past three months. In fact, its shares have gained 3.5%, as against the industry’s decline of 1.7% during the same time frame.
You can see the complete list of today’s Zacks #1 Rank (Strong buy) stocks here.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Click here to see the 5 stocks >>