Boulder Net Lease Funds LLC acquired a single-tenant industrial building totaling 90,000 square feet in Grand Prarie, Texas.
The purchase price for the asset was $4.2 million.
The property, net leased to L-3 Communications, is a manufacturing facility situated on 5.5 acres in the Dallas/Fort Worth metropolitan area.
“We were particularly interested in the asset as the double-digit cap rate makes this a unique opportunity in today’s market” said Jeff Rothbart, principal of Boulder Net Lease Funds. “Moreover, L-3 is an investment grade-rated company well positioned in the growing defense market and given their other locations within the Great Southwest we are confident that they will remain at this facility for the long term.”
Boulder Net Lease Funds LLC invests in net-leased properties nationwide.