Industrial property

One Liberty Properties increases industrial property

GREAT NECK, NY, May 12, 2022 (GLOBE NEWSWIRE) — One Liberty Properties, Inc. (NYSE: OLP), owner and manager of a primarily industrial portfolio as well as other net leased assets, today announced the acquired a 213,000 square foot industrial building located in Dalton, Georgia for $17.0 million. The property is leased until mid-2032 to QEP Co., Inc., a manufacturer and distributor of flooring and installation solutions for commercial and domestic applications. The net lease calls for an annual base rent of approximately $883,000 with annual increases of 3.0% beginning in 2023. The Class B facility, which was built in 1996, has good access to the I -75, is located between Chattanooga and Atlanta, features 24-foot by 31-foot headroom in the warehouse and 25 loading dock doors. The Company expects to obtain a mortgage debt of $10 million over ten years, at an interest rate of 3.50% and amortized over 30 years, on this property.

Patrick J. Callan, Jr., President and CEO of One Liberty, said, “We are excited to add another high-quality asset to our growing portfolio of industrial properties. Through this, we have added over $1.3 million in new rental income through industry acquisitions so far in 2022. We continue to be disciplined and opportunistic in our approach to capital deployment and view this transaction as a great example of how we are executing our strategy to deliver long-term long-term value for our shareholders.

Forward-looking statement:

Certain information in this press release and other statements and information publicly released 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. One Liberty intends that these forward-looking statements be covered by the safe harbor provision for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for the purpose of complying with such safe harbor provisions. . Factors that could cause actual results or other events to differ materially from these forward-looking statements are set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and Quarterly Reports on Form 10-Q filed subsequently and in particular, the sections of these reports entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations”. You should not rely on forward-looking statements as they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could materially affect actual results, performance or achievements. .

About One Liberty properties:

A freedom is a self-administered, self-managed real estate investment trust incorporated in Maryland in 1982. The Company acquires, owns and manages a geographically diversified portfolio consisting primarily of industrial properties. Many of these properties are subject to long-term net leases under which the tenant is generally responsible for property taxes, insurance and ordinary maintenance and repairs.

Contact:
One Freedom Properties
Investor Relations
Telephone: (516) 466-3100
www.onelibertyproperties.com