One Liberty Properties, Inc. has picked up a distribution facility in El Paso, Texas for $23.7 million. Situated on a 24-acre site, the facility has 419,821 sqf of rentable warehouse space and is net leased by a Fortune 1000 company through 2022. The company funded the purchase with cash on hand and with One Liberty’s line of credit. The company is in the process of obtaining long-term debt financing on the property. “This transaction demonstrates our continuing efforts to discover value by identifying high quality assets to add to our portfolio and strengthen the stability of our cash flow,” said Patrick J. Callan, Jr., President and CEO of One Liberty.
