CapLease Agrees to Acquire Class A Office Property

NEW YORK--(BUSINESS WIRE)--CapLease, Inc. (NYSE: LSE) announced today that it has entered into a binding contract to acquire a Class A office building in a major market in the Northeastern United States for a purchase price of approximately $50 million. The property is leased to an investment grade tenant for an approximately 9.5 year remaining lease term, and the Company’s average capitalization rate for the property will be over 8%.