Search
 

W.P. Carey Acquires Retail Distribution Center and Department Store

NEW YORK CITY-The 132,000-sf store is one of the anchors of the Galleria Mall in York, PA. Both properties were acquired for approximately $12 million.

By John Howe | Updated on February 22, 2001

NEW YORK CITY-W.P. Carey has closed on the acquisition of a distribution center and a retail store in York, PA, which will be leased back to Bon-Ton Department Stores under a 20-year bond-type net lease. The 132,000-sf department store is one of the anchors of the Galleria Mall. The properties, which include the company’s data center, were purchased for approximately $12 million on behalf of Corporate Property Associates 14, a public, non-traded real estate investment trust.

Bon-Ton, founded in 1898, is a publicly held operator of 73 stores that sells fashion apparel for men, women and children as well as accessories, cosmetics and home furnishings in secondary markets.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.