Industrial properties are stealth winners from the growth of online retail sales as well as from growth in the overall economy, explains Tim Plaehn, income expert and editor of The Dividend Hunter.

Industrial types of commercial properties include warehouses, light manufacturing facilities, logistics facilities, specialty industrial, and cold storage.

While demand for industrial space is growing from a wide range of companies that need that kind of space, supply is limited. There is only so much land around airports and seaports that is available for industrial use buildings.

To take advantage of the growth potential from this type of commercial real estate, I am adding Gramercy Property Trust (GPT) to our recommended stocks list. GPT carries one of the highest yields in the industrial REIT sector but also has attractive growth prospects.

Gramercy Property Trust has a total capitalization of about $6.3 billion. Of that total, debt is a conservative 38% of the total. The company has a BBB investment grade credit rating and 97% of the outstanding debt is fixed at an average rate of 3.53%.

Rising interest rates will have a minimal effect on Gramercy's expenses. This REIT has a very solid balance sheet, and on the financial side is very conservatively managed.

GPT currently yields 5.6% and I expect dividend growth in the range of 5% to 7% at some point over the next year. I am adding GPT to our "buy and accumulate" list.

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