One Liberty Properties Signs Agreement to Purchase Four-Building Industrial Portfolio in Milwaukee for $34 Million
– 277,117 Square Feet, 100% Leased to Seven Tenants – – Upon Closing Will Bring 2026 Acquisition Total to Over $102
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– 277,117 Square Feet, 100% Leased to Seven Tenants –
– Upon Closing Will Bring 2026 Acquisition Total to Over $102 Million –
GREAT NECK, N.Y., Nov. 02, 2026 (GLOBE NEWSWIRE) — One Liberty Properties, Inc. (NYSE: OLP), a real estate investment trust focused on the ownership of industrial properties, today announced it has entered into a contract to acquire a four-building industrial portfolio totaling 277,117 square feet on approximately 25 acres in the Milwaukee, Wisconsin MSA, at a price of $34 million.
The portfolio is 100% leased to seven tenants and generates aggregate annual base rent of approximately $2.3 million, with contractual annual rent increases ranging from approximately 2% to 4% and a weighted average remaining lease term of approximately six years. The tenants span a range of industries, including fabrication, distribution, commercial printing and healthcare services.
The purchase price will be funded with available cash and a mortgage. One Liberty expects to obtain of $20.6 million mortgage that will mature in 2031, bearing a fixed interest rate of 6.36%. The transaction is expected to close in the fourth quarter of 2026.
Patrick J. Callan, Jr., President and Chief Executive Officer of One Liberty, commented, “This acquisition marks another important step in One Liberty’s evolution to an industrial-focused portfolio. It adds scale in a tight industrial submarket where limited available land and steady demand from manufacturers and distributors keep vacancy relatively low. The buildings are leased to a diverse group of operating businesses, and with in-place rents below market, we see room to grow cash flow as leases roll over time.”
The properties are located west of downtown Milwaukee with access to Interstates 43 and 94, in the Waukesha County industrial submarket, which comprises approximately 64 million square feet and is less than 2% vacant. Milwaukee ranks second among major U.S. metros in the share of its workforce employed in manufacturing.
Forward Looking Statement:
Certain information contained in this press release, together with other statements and information publicly disseminated by One Liberty Properties, Inc. is forward looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provision for forward looking statements contained in the Private Securities Litigation Reform Act of 1995 and include this statement for the purpose of complying with these safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe One Liberty’s future plans, strategies and expectations, are generally identifiable by use of the words “may,” “will,” “could,” “believe,” “expect,” “intend,” “anticipate,” “estimate,” “project,” or similar expressions or variations thereof. Information regarding important factors that could cause actual outcomes or other events to differ materially from any such forward-looking statements appear in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 and the reports filed with the Securities and Exchange Commission thereafter; in particular, the sections of such reports entitled “Cautionary Note Regarding Forward Looking Statements”, “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations”, included therein. In addition, estimates of rental income and base rent exclude any related variable rent and the adjustments required by GAAP to present rental income; anticipated property purchases, sales, financings and/or refinancings may not be completed during the period or on the terms indicated, or at all; estimates of net proceeds and gains from property sales and financings/refinancings are subject to adjustment, among other things, because actual closing costs (including the amounts, if any, required to pay-off mortgage debt on properties being sold) may differ from the estimated costs; anticipated rent increases, including those tied to filling of vacancies or as a result of market-to-market opportunities (i.e., renewing leased premises or leasing vacant premises at higher rental rates) may not be realized; and amounts presented in this press release and the Company’s Quarterly Report on Form 10-Q for the period ended September 30, 2026 may differ from one another due to rounding. You should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company’s control and which could materially affect the Company’s results of operations, financial condition, cash flows, performance or future achievements or events.
About One Liberty Properties:
One Liberty, organized in Maryland in 1982, is an industrial-focused real estate investment trust. The Company owns and operates a geographically diversified portfolio consisting primarily of industrial properties across the United States. Additional financial and descriptive information on One Liberty, its operations and its portfolio, is available on its website at: http://1liberty.com. Interested parties are encouraged to review One Liberty’s Annual Report on Form 10-K and the other reports it files with the Securities and Exchange Commission for additional information.
Contact:
One Liberty Properties
Investor Relations
Phone: (516) 466-3100
www.1liberty.com
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