NEWPORT BEACH, Calif.--(O’Donnell Strategic Industrial REIT announced today that it has acquired the Business Park Industrial property in Winston-Salem, NC for a purchase price of $4,460,000.)--
“Our objective is to maximize the value of the property while simultaneously reducing the overall impact to the natural environment.”
The Property is an 84,119 square foot industrial warehouse that is 100% leased to WM Recycle America, LLC (“WMRA”), a wholly owned subsidiary of Waste Management, Inc. (“WM”), through December 31, 2022. WMRA provides recycling, materials brokerage, and container processing services in the US and Canada. WM has an investment grade credit rating (S&P BBB) and handles 8 million tons of waste per year.
“We intend to move forward with LEED certification of this property using materials and processes that are environmentally responsible and resource efficient,” said Douglas O’Donnell, CEO of O’Donnell Strategic Industrial REIT. “Our objective is to maximize the value of the property while simultaneously reducing the overall impact to the natural environment.”
O’Donnell Strategic Industrial REIT intends to acquire income-producing industrial warehouse real estate assets located throughout the United States that are leased to creditworthy tenants. In addition, the Company is focused on acquiring environmentally-friendly or “green” properties that are certified under the Leadership in Energy and Environmental Design (LEED) Green Building Rating System, and intends to work towards LEED certification for any properties that are not LEED certified at the time they are acquired.
This press release contains forward-looking statements within the meaning of federal securities laws and regulations. These forward-looking statements are identified by their use of terms and phrases such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "predict," "project," "should," "will" and other similar terms and phrases, including references to assumptions and forecasts of future results. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. Although the company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. The Company undertakes no obligation to update any forward-looking statement contained herein to confirm the statement to actual results or changes in the company's expectations.