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W. P. Carey Announces $41 Million Industrial Sale-Leaseback in TN
W. P. Carey Inc., — a REIT specializing in corporate sale-leasebacks, build-to-suits and the acquisition of single-tenant net-lease properties — has announced the $41 million sale-leaseback of two Tennessee manufacturing facilities totaling approximately 416,400 square feet.
The facilities are master leased on a triple-net basis for a term of approximately 20 years to a leading manufacturer of attachments for heavy construction equipment. The lease includes an option for the tenant to pursue a follow-on expansion funded by W. P. Carey.
The facilities represent the entirety of the tenant’s manufacturing footprint and are located in close proximity to its primary markets and key rail lines. The facilities also contain significant tenant build-out and equipment.
- ◦Lease
- ◦Sale/Acquisition
