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Gramercy Capital closes acquisition of class A industrial building for $24.65M

Gramercy Capital announced that it closed on the acquisition of an approximately 600,000 square foot class A industrial building located in Olive Branch, Mississippi, in an all-cash transaction for a purchase price of approximately $24.65M. The building is 100% leased to a single tenant through December 31, 2022 and includes an adjacent 13.8 acre land parcel with capacity for an additional 250,000 square foot building.