One Liberty Properties, Inc. is a publicly held real estate investment trust. Its common shares trade on the New York Stock Exchange under the symbol "OLP".

One Liberty Properties, Inc. is seeking to acquire well located, functional industrial properties.

DEAL SIZE

• $5-50 Million
• Sweet spot of $10-20 million
• Will consider portfolios

YIELD / CAP RATE

• 6.25% cap and higher
• Lower cap rate possible if ability to assume existing low interest rate debt
• Ability to assume non-recourse debt

LOCATIONS

• Primary or secondary MSAs
• OK with smaller markets but not tertiary
• Infill locations with barriers to entry
• Good access to highways and infrastructure

BUILDINGS

• Functional warehouse and flex buildings
• High clear height and ample loading
• Prefer shallow depth buildings
• Ability to demise the buiding for multiple tenants
• Trailor storage and extra parking a plus

TENANCY

• Prefer stabilized single tenant properties
• Will also acquire multi-tenant, shallow bay warehouses
• Tenant rent/SF inline or below market

TENANT CREDIT

• Flexible on tenant credit
• Willingness to acquire properties leased to smaller sub investment grade companies
• We have closed numerous deals wtih tenants reporting under $50 million in revenue
• Need to see financials and seek profitable companies with positive tangible net worth

LEASE TERM

• Desire long term leases however have closed countless deals with 5 years of term or less
• Recent lease extension, option exercise or new lease a plus
• Experience structuring sale-leasebacks including value-add short term sale-leasebacks