Canadian REIT Pure Industrial Grows US Footprint
By3755 Atlanta Industrial Parkway
Vancouver, B.C.—Canadian-based Pure Industrial Real Estate Trust (PIRET) is expanding its footprint in two major Southeast U.S. markets—Atlanta and Charlotte, N.C.—with the purchase of a six-property portfolio of industrial assets from STAG Industrial Inc. for $81 million.
The United States acquisitions comprise roughly 1.6 million square feet and consist of four assets in the Atlanta metro area and two in Charlotte. They increase PIRET’s investment in the U.S. to 19 properties totaling 4.6 million square feet and its Southeast U.S. holdings to 10 properties with a total of 3 million square feet of gross leasing area…