One Liberty Properties Completes Purchase of a Six Building Multi-Tenant Industrial Property for $53.5 Million
– 70 Industrial Properties Comprise Over 80% of Total Portfolio Base Rent for 2026 –
– Record Industrial Acquisition Year With $188.8 Million Completed Year to Date –
GREAT NECK, N.Y., Dec. 22, 2025 (GLOBE NEWSWIRE) -- One Liberty Properties, Inc. (NYSE:OLP), a real estate investment trust focused on the ownership of industrial properties, today announced the completion of the previously announced acquisition of a 397,440 square foot, six building, multi-tenant industrial property located in Sewickley, Pennsylvania, for $53.5 million. The portfolio is 93% leased to 16 tenants, anchored by Amazon, Linde Gas, a Fortune Global 2000 multinational chemical company, The Macomb Group, and Safelite Fulfillment. The aggregate annual base rent is approximately $3.4 million, with annual contractual rent bumps ranging from 2% to 3% and the potential for additional rent growth as vacancies are filled and mark-to-market upside as leases expire. The weighted average remaining lease term is 3.3 years.
The acquisition was financed with cash and a seven-year $32.4 million mortgage bearing an interest rate of 5.45%, with the first five years interest-only, followed by a 30-year amortization schedule.
Patrick J. Callan, Jr., President and Chief Executive Officer of One Liberty stated, "This acquisition delivers immediate critical mass in a high-performing and high barrier to entry submarket within the Pittsburgh MSA. The properties add a diverse roster of high-quality industrial tenants and creates operational efficiencies beyond what smaller piecemeal acquisitions can accomplish. The over $188 million of transactions completed in 2025 represents over five times our average annual acquisition pace from the prior five years, reflecting a meaningful inflection point in the execution of our industrial-focused transformation strategy."
Forward Looking Statement:
Certain information contained in this press release, together with other statements and information publicly disseminated by One Liberty Properties, Inc. is forward looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. We intend such forward looking statements to be covered by the safe harbor provision for forward looking statements contained in the Private Securities Litigation Reform Act of 1995 and include this statement for the purpose of complying with these safe harbor provisions. Forward looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, are generally identifiable by use of the words "may," "will," "could," "believe," "expect," "intend," "anticipate," "estimate," "project," or similar expressions or variations thereof. Information regarding important factors that could cause actual outcomes or other events to differ materially from any such forward looking statements appear in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 and the reports filed with the Securities and Exchange Commission thereafter; in particular, the sections of such reports entitled "Cautionary Note Regarding Forward Looking Statements", "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations", included therein. In addition, estimates of rental income or base rent exclude any related variable rent; anticipated property purchases, sales, financings and/or refinancings may not be completed during the period or on the terms indicated or at all; anticipated rent increases tied to filling of vacancies or as a result of market-to-market opportunities (i.e., renewing leased premises at higher rental rates) may not be realized; and estimates of gains from property sales or proceeds from financing or refinancing transactions are subject to adjustment, among other things, because actual closing costs may differ from the estimated costs. You should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company's control and which could materially affect the Company's results of operations, financial condition, cash flows, performance or future achievements or events.
About One Liberty Properties
The Company acquires, owns and manages a geographically diversified portfolio consisting primarily of industrial properties.
Contact:
One Liberty Properties
Investor Relations
Phone: (516) 466-3100
www.1liberty.com
