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COLE OFFICE & INDUSTRIAL REIT (CCIT II), INC. FILES (8-K) Disclosing Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

June 10, 2014



Item 1.01 Entry into a Material Definitive Agreement

The information set forth under Item 2.01 of this Current Report on Form 8-K is hereby incorporated by reference into this Item 1.01. Federal Express Corporation - Las Vegas, NV - On June 4, 2014, ARCP FE Las Vegas NV, LLC, a Delaware limited liability company and a wholly-owned subsidiary of Cole Corporate Income Operating Partnership II, LP ("CCI II OP"), the operating partnership of Cole Office & Industrial REIT (CCIT II), Inc. (the "Company"), entered into an agreement of purchase and sale with FE Properties Las Vegas LLC, a Nevada limited liability company ("Seller"), which is not affiliated with the Company, its advisor or affiliates (the "Purchase Agreement"). Pursuant to the terms of the Purchase Agreement, CCI II OP purchased an approximately 96,000 square foot single-tenant industrial building leased to the Federal Express Corporation, located in Las Vegas, Nevada (the "Property"), for a purchase price of approximately $19.4 million, exclusive of closing costs. The Property was constructed in 2010. Item 2.01 Completion of Acquisition or Disposition of Assets The information set forth under Item 1.01 of this Current Report on Form 8-K is hereby incorporated by reference into this Item 2.01. On June 5, 2014, CCI II OP, through its wholly-owned subsidiary, acquired the Property from the Seller. The principal provisions of the lease at the Property are set forth in the following table: % of Total Total Square Rentable Effective Effective Base Feet Square Renewal Annual Base Rent per Square Property Tenant Leased Feet Options (1) Rent (2) Foot (2) Lease Term (3) Federal Express Federal Corporation - Express Las Vegas, NV Corporation 95,899 100% 2/5 yr. $ 1,305,295 $ 13.61 6/5/2014 - 9/30/2025



(1) Represents the number of renewal options and the term of each option.

(2) Effective annual base rent and effective base rent per square foot include

adjustments for rent concessions or abatements, if any.

(3) Represents the lease term beginning with the later of the purchase date or

the rent commencement date through the end of the non-cancelable lease term, assuming no renewals are exercised. In general, we intend for our properties to be subject to long-term triple or double net leases that require the tenants to pay substantially all operating expenses in addition to base rent. The purchase of the Property was funded with proceeds from the Company's ongoing public offering of common stock and borrowings from the Company's revolving bank credit facility (the "Credit Facility"). In connection with the acquisition, CCI II OP borrowed approximately $13.5 million under the Credit Facility on June 5, 2014. As of June 5, 2014, the borrowing base under the Credit Facility based on the underlying collateral pool for qualified properties was approximately $52.9 million and the amount outstanding under the Credit Facility was approximately $40.5 million. In connection with the acquisition, the Company paid an affiliate of Cole Corporate Income Advisors II, LLC, its advisor, an acquisition fee of approximately $387,000. In evaluating the Property as a potential acquisition, including the determination of an appropriate purchase price to be paid for the Property, the Company considered a variety of factors, including the condition and financial performance of the Property; the terms of the existing lease and the creditworthiness of the tenant; property location, visibility and access; age of the Property, physical condition and curb appeal; neighboring property uses; local market conditions, including vacancy rates; area demographics, including trade area population and average household income; and neighborhood growth patterns and economic conditions. The Company does not currently have plans to renovate, improve or develop the Property, and the Company believes that the Property is adequately insured. 2 --------------------------------------------------------------------------------

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant



The information pertaining to the Company's borrowings under the Credit Facility set forth under Item 2.01 of this Current Report on Form 8-K is hereby incorporated by reference into this Item 2.03.

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