One Liberty Properties makes two buys for $28.1M

• One Liberty (NYSE:OLP) in the last week closed on a two-tenant 131.7K square foot shopping center on 9.7 acres in St. Louis Park, MN for $14.2M, and the fee interest in a land parcel in Beachwood, OH for $13.9M. The fee interest is leased to an operator of a 348-unit apartment property.
• Combined, the two are expected to generate about $2.6M in aggregate base rent over the 12 months ending Sept. 30, 2017.