Chambers Street Completes New Lease at 316,000 Square Foot Warehouse/Distribution Property in North Carolina

– Long-term Lease With New Tenant Replaces Prior Lease at Expiration –

Chambers Street's Union Cross Building II in Winston-Salem, North Carolina (Photo: Business Wire)

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PRINCETON, N.J.--()--Chambers Street Properties (NYSE:CSG), a real estate investment trust focused on acquiring, owning and operating net leased industrial and office properties, announced it has signed a five-year lease with a new tenant at its Union Cross Building II in Winston-Salem, North Carolina. The new lease for approximately 316,000 square feet maintains 100% occupancy.

“The quality of this property and its location were key factors that enabled us to execute a new lease while minimizing any downtime between tenants,” said Philip L. Kianka, Executive Vice President and Chief Operating Officer, Chambers Street. “Our asset management team did a terrific job in working very closely with our new tenant to help them satisfy their real estate requirements. This lease expands upon our first quarter activity during which we leased more than 827,000 square feet, including renewals and new leases.”

Chambers Street acquired Union Cross Building II in 2007. The property has expansion capacity of approximately 101,250 square feet and is located on US 311 and in close proximity to I-40, I-85, I-77, I-81, and I-95, and the Piedmont Triad and Smith-Reynolds airports.

About Chambers Street Properties (NYSE:CSG)

Chambers Street is a real estate investment trust focused on acquiring, owning and operating net leased industrial and office properties, leased to creditworthy tenants. As of March 31, 2014, Chambers Street owned or had a majority interest in 129 properties located across 20 U.S. states, France, Germany, and the United Kingdom encompassing approximately 35.8 million rentable square feet.

For additional information, please visit www.ChambersStreet.com.

Contacts

Institutional Relations
ICR, LLC.
Stephen Swett, 203-682-8377
Stephen.Swett@icrinc.com
or
Investor Relations
Chambers Street
Nick Dolya, 407-212-7068
Nick.Dolya@CSPREIT.com
or
Media
Gallen Neilly
Tim Gallen
Tim@Gallen.com
or
Andrew Neilly, 925-930-9848
Andrew@Gallen.com

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Contacts

Institutional Relations
ICR, LLC.
Stephen Swett, 203-682-8377
Stephen.Swett@icrinc.com
or
Investor Relations
Chambers Street
Nick Dolya, 407-212-7068
Nick.Dolya@CSPREIT.com
or
Media
Gallen Neilly
Tim Gallen
Tim@Gallen.com
or
Andrew Neilly, 925-930-9848
Andrew@Gallen.com