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Maryland Firm Buys Dallas’ Mrs. Baird's Distribution Facility for $6.2 Million

Texas Business reports:  American Realty Capital Properties Inc. closed on the acquisition of the fee-simple interest in a Mrs. Baird's distribution facility located in Dallas, Texas with 75,050 rentable square feet, at a purchase price of approximately $6.2 million, exclusive of closing costs.

The Mrs. Baird's distribution facility is 100 percent leased to and guaranteed by Bimbo Bakeries USA, Inc., a wholly owned subsidiary of Grupo Bimbo SAB de CV.  The net lease has a 15-year term, with approximately five years remaining.

“We are excited with the execution of this acquisition,” said chief executive Nicholas S. Schorsch in a prepared statement. “The Mrs. Baird's facility adds to our portfolio's tenant mix and geographic diversification. Since June, we have closed on 22 previously disclosed properties and have entered into an additional contract for a Reckitt Benckiser property. Our recent acquisitions increase the total size of our portfolio to approximately $216.5 million, comprising 119 properties.”

American Realty Capital Properties, Inc. is a publicly traded Maryland corporation listed on The NASDAQ Capital Market that intends to qualify as a real estate investment trust focused on owning and acquiring single-tenant, freestanding commercial properties generally subject to net leases with high credit quality tenants .