Benzinga | Jul 12, 2021 08:55AM EDT

Arch Street Capital, VEREIT Acquire Regional Headquarters For Atlas Air

* Arch Street Capital Advisors and VEREIT announced the acquisition of Atlas Air's 100,000 SF regional headquarters, strategically located in proximity to the Cincinnati / Northern Kentucky International airport and the newly developed, three million-square-foot global hub for Amazon's Prime Air.

* The property is 100% occupied by Atlas Air Worldwide Holdings Inc. (NASDAQ:AAWW) subsidiary Atlas Air, Inc.

* This transaction is part of Arch and VEREIT's programmatic venture focused on acquiring long-term leased, single-tenant office assets.

* The companies believe the property's strategic location near-global shipment hubs, along with the tenant's creditworthiness and the established long-term lease, makes it a strong investment for the Partnership.

* Price action: AAWW shares closed higher by 3.2% at $67.78 on Friday.