06:04 PM EST, 01/22/2025 (MT Newswires) -- One Liberty Properties ( OLP ) said late Wednesday it has completed the acquisition of two Class A industrial properties in Mobile, Alabama, for $49 million.

The two properties have an aggregate of 371,586 square feet and are located on about 31 acres, according to the company.

There are four tenants, including Simpson Manufacturing, the firm said, adding that it financed the transaction with cash and a 10-year $29 million mortgage with an interest rate of 6.12%.