One Liberty Properties

What One Liberty Properties does

The company monetizes its real estate through two revenue streams: recurring rental income from industrial properties (the dominant and growing stream) and gains on the sale of non-core retail and other properties. In 2025, rental income plus disposition activity produced total revenue of approximately $97.26 million, with FFO of $1.80 per diluted share and net income of $1.15 per diluted share. The go-to-market motion is dual-sided: (1) capital allocation toward institutional and retail investors via the NYSE listing and quarterly dividend ($0.45 per share quarterly, $1.80 annualized, 134 consecutive quarterly payments), and (2) direct property acquisitions sourced through a dedicated acquisitions team and an [email protected] intake channel, with underwriting focused on submarkets featuring high barriers to entry, low vacancy, and below-replacement-cost pricing with embedded mark-to-market upside. The company operates a lean platform of 11-50 employees, has executed three major industrial acquisitions totaling over $158 million in the 12 months ending January 2026, and trades at 12.2x AFFO versus an industrial REIT peer median of 17.3x.

Name

One Liberty Properties

Legal name

One Liberty Properties, Inc.

Website

https://onelibertyproperties.com

Company type

Public

Founded year

1992

Operating status

Operating

Headcount range

11–50 employees

Short description

One Liberty Properties (NYSE: OLP) is a self-managed REIT that acquires and operates industrial properties across 33 U.S. states, serving enterprise logistics, manufacturing, and distribution tenants under long-term net leases with consistent quarterly dividends.

Ownership category

akta.pro rank

Product category

Industrial Real Estate / Net Lease REIT

NAICS

Funds, Trusts, and Other Financial Vehicles (525), Other Investment Pools and Funds (5259), Rental and Leasing Services (532)

SIC

Real Estate Investment Trusts (6798)

akta.pro primary industry

Real Assets — Operating Platforms & Direct Investments (FSAAAKAL)

Keywords

• Industrial real estate
• Logistics properties
• Distribution warehouses
• Net lease REIT
• Commercial property investment

Headquarters

HQ city

Great Neck

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Others

Revenue model

1. Rental Income from Industrial Properties: The company generates revenue primarily through rental income from industrial properties leased to tenants under long-term net leases with periodic rent increases. As of 2025, approximately 82% of annual base rent comes from industrial properties following the strategic portfolio repositioning.
2. Property Dispositions: The company generates gains on sale from divesting non-core retail and other properties. In 2025, the company sold 10 non-core retail and other properties for $58.9 million, achieving a net gain on sale of $18.7 million.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

One Liberty Properties is a self-managed REIT that acquires, owns, and operates a portfolio of 112 industrial properties across 33 U.S. states, primarily logistics warehouses and distribution facilities leased under long-term net leases. Industrial properties comprise approximately 82% of annual base rent with 98.5% portfolio occupancy, and tenants include credit-quality firms such as Amazon, Mondelez Global, Husqvarna, Linde Gas, Bimbo Bakeries USA, and Home Depot.

Product overview

One Liberty Properties is a self-managed Real Estate Investment Trust (REIT) that operates as a single unified offering: acquiring, owning, and managing industrial properties across the United States. The company has transformed from a diversified REIT into a pure-play industrial REIT, with its portfolio now comprising 112 properties across 33 states generating over 82% of annual base rent from industrial assets. Key properties include the 79 North Industrial Park (397,440 SF in Pittsburgh MSA), Charter Next Generation (210,600 SF in Columbia SC), River Road Building II (236,324 SF in Omaha IA), South Alabama Logistics Park (371,586 SF in Mobile AL), Superior Third Party Logistics (199,919 SF in Minneapolis MN), and a 10-building industrial portfolio (637,633 SF across 7 markets). The portfolio achieves 98.5% occupancy with properties primarily leased under long-term net leases with periodic rent increases.

Differentiator

Problem solved

Functional benefit

Products and services

• Industrial Property Portfolio A portfolio of 112 industrial properties across 33 U.S. states, primarily logistics warehouses and distribution facilities leased to industrial tenants under long-term net leases with periodic rent escalations. Generates approximately 82% of annual base rent with 98.5% occupancy at year-end 2025.
• 79 North Industrial Park Six-building multi-tenant industrial portfolio totaling 397,440 SF in Sewickley, PA (Pittsburgh MSA), acquired for $53.5 million in December 2025. Multi-tenant industrial space leased to logistics and industrial users.
• South Alabama Logistics Park - Building D Two Class A industrial multi-tenant warehouses comprising 371,586 SF in Theodore, AL (Mobile MSA), acquired for $49 million. Industrial logistics space serving distribution and manufacturing tenants.
• Superior Third Party Logistics Property 199,919 SF Class A industrial building in Oakdale, MN (Minneapolis MSA), leased to Superior Third Party Logistics. Single-tenant industrial logistics facility.

Quantifiable outcome

• Industrial properties now comprise 82% of annual base rent (up from ~40% in 2018)
• +4 more outcomes

Named customers8 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators13 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• PS Business Parks: Multi-tenant industrial and flex/office REIT. Comparable on long-duration tenant relationships and multi-tenant industrial operating model.
• Prologis: The largest pure-play industrial REIT globally. Direct competitor for capital flows into industrial real estate and the benchmark institutional industrial REIT for OLP's peer multiple (17.3x AFFO).
• Duke Realty: Former pure-play industrial REIT (acquired by Prologis in 2022). Historical comparable for OLP's industrial-pure-play strategy and a relevant precedent on re-rating post-pivot.
• Rexford Industrial Realty: Pure-play industrial REIT concentrating on infill Southern California. Comparable Class A industrial focus and rent-growth-driven thesis; key comp for OLP's multiple.
• STAG Industrial: Industrial REIT focused on single-tenant and multi-tenant industrial properties across the U.S. Comparable scale, acquisition pace, and net-lease structure to OLP.
• Terreno Realty: Pure-play industrial REIT acquiring industrial properties in six major U.S. coastal markets. Closely comparable investment thesis around high-barrier submarkets and below-replacement-cost acquisitions.
• EastGroup Properties: Pure-play industrial REIT focused on Sun Belt distribution facilities in high-growth markets. Closest small/mid-cap direct comparable to OLP given similar focus on Class A multi-tenant industrial and net-lease structure.
• First Industrial Realty Trust: Diversified industrial REIT operating a U.S. portfolio of bulk and light-industrial properties. Comparable to OLP on portfolio construction, tenant-mix, and submarket selection discipline.

Broad incumbents

• Realty Income: Largest net-lease REIT with growing industrial exposure post-Spirit Realty acquisition. Comparable on net-lease structure, monthly dividend narrative, and institutional investor base.
• W. P. Carey: Diversified net-lease REIT with industrial exposure. Overlaps with OLP on tenant-relationship-driven, long-WALT industrial investments but operates across multiple property types.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/one-liberty-properties

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about One Liberty Properties