GTJ REIT, Inc. Acquires Industrial Property Leased and Occupied by Ford Motor Company

Acquisition is part of long-term growth strategy and marks the first deal for GTJ post Wu/Lighthouse merger

Business Wire

WEST HEMPSTEAD, N.Y. & WINDSOR LOCKS, Conn.--(BUSINESS WIRE)--

GTJ REIT (GTJ), a public non-traded real estate investment trust based in West Hempstead, NY, announced today that it has acquired an industrial property at 110 Old County Circle, Windsor Locks, CT. The building is currently 100% leased and occupied by Ford Motor Company (Ford). Terms of the transaction were not disclosed.

The 226,661 square foot industrial property sits on 15 acres of land in Windsor Locks, a Connecticut suburb located in Greater Hartford’s north submarket. Situated along the I-91 Corridor between Hartford, CT and Springfield, MA this area is a premier location for Connecticut’s distribution tenants. Also included in the transaction is an additional vacant seven-acre parcel, adjacent to the property.

The deal is the first for GTJ since its transformative merger with the former Wu/Lighthouse Partners in January, 2013. As part of the merger, GTJ acquired ownership interests in a portfolio of 25 commercial properties located in New York, New Jersey and Connecticut, adding to an existing portfolio. In total, GTJ now owns 33 properties consisting of more than 3 million square feet on approximately 220 acres of land. GTJ is run by CEO Paul Cooper, President and COO Louis Sheinker, and CFO Joel Hammer.

Paul Cooper commented, “The Old County Circle property is an asset that fits well within GTJ’s investment goal of acquiring best-in-class assets, in key locations, across the northeast and mid-Atlantic corridors. We are excited to have Ford as a long-term tenant in a facility that remains a critical component for its Northeast parts distribution operation.”

Mr. Sheinker added, “We plan to be very active on the acquisition front, pursuing strategic growth opportunities across the region. We will leverage our extensive contacts in the real estate industry, as well as various sources of liquidity, to build and enhance our growing portfolio.”

About GTJ REIT

GTJ REIT is a fully integrated, self-administered and self-managed, public, non-listed REIT engaged in the acquisition, ownership, and management of commercial real estate in the Northeast and Mid-Atlantic areas. For more information, please see www.gtjreit.com.

Contact:
GTJ REIT
Joel Hammer, 516-693-5500 (Investors)
Chief Financial Officer
or
Kent Place Communications
Melissa Sheer, 917-690-2199 (Media)
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