Arch Street Capital Advisors and VEREIT have acquired DHL Supply Chain’s North American Headquarters in Westerville. The property, located within the recently developed Westar Place Business Park, is a new, build-to-suit, 145,000 square foot class A office building.
The terms of the deal were not disclosed.
The acquisition is part of Arch Street and VEREIT’s new venture focused on the acquisition of long term leased, single-tenant office assets. The partnership has acquired approximately $120.8 million of assets to date, with an additional $49.8 million of assets identified for acquisition in early 2020.
The partnership was formed with Arch Street’s institutional client, Gatehouse Capital, K.S.C.C., Kuwait.