VEREIT, Inc. is a full-service real estate operating company with investment management capability. VEREIT™ owns and actively manages a diversified portfolio of retail, restaurant, office and industrial real estate assets with a total asset book value of $18.7 billion including 4,572 properties totaling approximately 100.9 million square feet. Additionally, VEREIT manages $6.6 billion of gross real estate investments on behalf of the Cole Capital® non-listed REITs.
As a full-service real estate operating company, VEREIT is driven to serve our tenants, stakeholders and employees through dicipline, transparency and consistency.
VEREIT completed a disposition of its 45% interest in a jointly-owned portfolio consisting of three power centers in Chandler, AZ. The portfolio encompasses 751,563 square feet and included such anchor tenants as Nordstrom Rack, TJ Maxx, Walmart, and Bed, Bath and Beyond. Active portfolio management and the culling of specific joint venture assets play a substantial role to optimize the VEREIT portfolio. Read More.
Acquisition | Hopewell, NJ (Princeton/Trenton MSAs)
VEREIT acquired and presently manages a three-building 481,854-square-foot built-to-suit office campus, which serves as the primary office for Merrill Lynch’s Global Wealth Management operations. This asset fits the strategy for VEREIT’s portfolio based on the investment grade credit rating of the tenant, contractual rent increases and quality location of the property. The campus houses members of the executive team, credit card processing and billing, IT, and inbound call center functions, with a staff of approximately 6,800 employees. Read More.