SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) February 10, 2000
ONE LIBERTY PROPERTIES, INC.
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(Exact name of registrant as specified in charter)
Maryland 0-11083 13-3147497
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(State or other (Commission file No.) (IRS Employer
jurisdiction of I.D. No.)
incorporation)
60 Cutter Mill Road, Suite 303, Great Neck, New York 11021
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(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code 516-466-3100
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Item 2. Acquisition or Disposition of Assets.
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On February 10, 2000, in an ordinary course of business transaction, a
wholly owned subsidiary of registrant acquired an approximately 51,018 square
foot building located on approximately 4.3 acres in Plano, Texas (the
"Property") for approximately $ 7.65 million. The Property consists of a
one-story retail building and is net leased to two tenants. Golfsmith
International Inc. occupies 25,018 square feet and BDP L.C., a Texas based
franchisee of Bassett Furniture Industries, Inc. (NYSE:BSET) occupies 26,000
square feet. The basic terms of the leases expire in 2014 and 2013 and provide
the tenants with lease renewal options through 2029 and 2028, respectively. The
total current net annual rent is $783,315. In connection with the acquisition,
the subsidiary obtained a first mortgage from General Electric Capital
Corporation in the amount of $5 million at a fixed rate of 8.26% which matures
in ten years.
Item 7. Financial Statements
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Financial statements relating to the acquisition described in Item 2
have not been included in this report and will be filed prior to April 25, 2000.
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
ONE LIBERTY PROPERTIES, INC.
By:/s/
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Mark H. Lundy
Secretary