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.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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