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Chicago & Midwest  + Greater Chicagoland  + Net Lease  |  October 6, 2020
Paul Bubny
By: Paul Bubny

WPC Closes $40M Sale-Leaseback

W. P. Carey Inc. (WPC) closed a $40-million sale-leaseback of a 622,000-square-foot light manufacturing facility in Huntley, IL, near O’Hare International Airport. The facility is triple-net leased on a 15-year term to Weber-Stephen Products LLC, a global leader in barbecue grills and accessories.

Built in 2014 and located near Weber-Stephen’s global distribution center, the facility comprises the tenant’s primary North American manufacturing footprint. Since 2014, Weber-Stephen has made capital investments totaling more than $28 million in the facility.

“In today’s market, more companies are turning to their real estate assets as a source of growth and liquidity,” said Andrés Dallal, WPC’s executive director of investments. “We are thrilled to welcome Weber-Stephen as our newest tenant, and we look forward to being an ongoing capital partner for them in the future as they continue to grow their business.”

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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