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W. P. Carey Completes $188M in Investments
New York-based W. P. Carey Inc. completed five investments across multiple state totaling roughly $188 million. The investments comprise mission-critical properties triple-net leased to industry-leading tenants, with a weighted-average lease term of more than 15 years.
W. P. Carey’s Gino Sabatini says, “These transactions establish a strong start to our year, and underscore W. P. Carey’s commitment to a diversified investment approach.
The transactions include:
– a $38 million investment in a 763,000-square-foot distribution center in Inwood, WV, net leased to its existing tenant, Orgill, the world’s largest independent hardware distributor.
– a $36 million investment in a 153,000-square-foot office/educational facility located in Portland, OR, net leased to University of Western States. UWS plans to relocate its entire campus to the facility.
– a $17 million investment in a 54,000-square-foot headquarters and tractor/trailers hub in Bensenville, IL, net leased to Amerifreight Systems LLC.
– two investments totaling $97 million, comprising a 268,000-square-foot food production facility in the western U.S. and a 220,000-square-foot office in Morrisville, NC.
*Pictured W.P. Carey’s NY HQ 50 Rockefeller Plaza
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
