Global Net Lease Invests In Allen, Texas, Commercial Facilities
08/15/2018
The first closed acquisition is a newly constructed, 145,000 square foot, Class A office building located in Allen, Texas acquired for $54.0 million.
According to Global Net officials, the property generates an average GAAP Cap rate of 7.36%1 and is net leased for 12 years to a subsidiary of the guarantor, NetScout Systems, Inc.
The second transaction is a $21.4 million acquisition of a 669,000 square foot industrial facility leased to Rubbermaid Incorporated. The building was purchased at a price equal to an average GAAP cap rate of 7.43% with a remaining lease term of 10 years. The guarantor of the lease is Newell Rubbermaid, Inc., officials said.
Founded over 30 years ago, NetScout, the guarantor of the Class A office building lease, is a leading provider of application and network performance management products. NetScout has been in the network performance monitoring space for 30 years. The company offers solutions that enable enterprises, service providers, and government agencies to monitor, manage, and protect their network and applications.
The tenant of the distribution facility, Rubbermaid, was founded in 1968 and is a manufacturer of innovative, solution-based products for commercial and institutional markets worldwide. The guarantor, Newell Brands, is a worldwide provider of consumer and commercial products. Newell Brands has a Standard & Poor's credit rating of "BBB-" and a Moody's rating of " About Global Net Lease, Inc.
Project Announcements
Little Leaf Farms Plans Coffee County, Tennessee, Production Operations
07/02/2025
White Rock Truss & Components Expands Lee County, Virginia, Operations
07/02/2025
Fox Tank Company Plans Coshocton, Ohio, Operations
07/02/2025
Ascentek Expands Shreveport, Louisiana, Operations
07/02/2025
ProBio Establishes Hopewell, New Jersey, Gene Therapy Operations
07/02/2025
22nd Century Technologies Expands Fairfax County, Virginia, Headquarters Operations
07/02/2025
Most Read
-
20th Annual Area Development Gold and Silver Shovel Awards
Q2 2025
-
First Person: Joe Capes, CEO, LiquidStack
Q2 2025
-
The Legal Limits of DEI in Incentives Agreements, Hiring, and Contracting
Q2 2025
-
From Silicon to Server: Mapping the Data Center Supply Chain
Q2 2025
-
39th Annual Corporate & 21st Annual Consultants Surveys: What Business Leaders and Consultants Are Saying About Site Selection
Q1 2025
-
Rethinking Life Sciences Site Selection in a Resilient and Dynamic Market
Q2 2025
-
Top States for Doing Business in 2024: A Continued Legacy of Excellence
Q3 2024