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Arch Street, Orion REIT Venture Focuses on Single-Tenant Office
Arch Street Capital Advisors and Orion Office REIT Inc. are continuing a programmatic venture focused on the acquisition of long-term leased, single-tenant office assets. Orion’s interest in the partnership was assumed from VEREIT, Inc. as part of Orion’s spin-off transaction this past November following the Realty Income and VEREIT merger.
To date, the partnership has acquired six assets for approximately $227 million. Recently the partnership acquired 700 Market St. in St. Louis, a 127,468-square-foot office property which serves as the corporate headquarters for an investment-grade tenant. The partnership is actively seeking new single-tenant office investment opportunities in the range of $10 to $60 million.
“We look forward to continuing our strategic partnership with Orion and enhancing the portfolio through future acquisitions of high-quality single-tenant office properties,” stated Hemal Patel, VP at New York City-based Arch.
