PRINCETON, N.J.--(BUSINESS WIRE)--Chambers Street Properties (NYSE:CSG), a real estate investment trust focused on acquiring, owning and operating net leased industrial and office properties, today announced it has completed the sale of two office properties for aggregate proceeds of $44.9 million. The properties sold include the 124,500 square foot 12650 Ingenuity Drive office building in Orlando, Florida for approximately $26.5 million and the 40,468 square foot Thames Valley Five office building in Reading, United Kingdom for approximately $18.4 million.
“These dispositions, together with our recent industrial portfolio acquisition, represent a continuation of the Company’s strategy to transition from non-core office assets and into U.S. industrial assets,” said Martin A. Reid, Executive Vice President and Chief Financial Officer of Chambers Street. “We believe this recycling of capital will improve the profile of our portfolio and create lasting shareholder value.”
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 September 30, 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 36.3 million rentable square feet. For additional information, please visit www.ChambersStreet.com.