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Arch Street, VEREIT Snag Atlas Air’s Regional Headquarters
Arch Street Capital Advisors and VEREIT, Inc. have acquired Atlas Air’s 100,000-square-foot regional headquarters in Erlanger, KY. The property, a build-to-suit office facility strategically located near the Cincinnati / Northern Kentucky International airport, is 100% occupied by Atlas Air.
Terms of the deal weren’t disclosed. The acquisition is part of Arch and VEREIT’s programmatic venture focused on acquisition of long-term leased, single-tenant office assets.
Al. Neyer developed and built the facility as a regional operations center for Atlas Air. Along with being located near the Cincinnati airport, it’s also proximate to the newly developed, three-million-square-foot global hub for Amazon’s Prime Air. The site offers capacity for another 100,000-square-foot facility if the need arises.
“The property’s strategic location near global shipment hubs along with the tenant’s creditworthiness and the established long-term lease, make this a strong investment for the partnership,” said Thomas W. Roberts, EVP and CIO at VEREIT.
- ◦Sale/Acquisition
