The four properties, which total 245,600 sf of space, will be leased under a 20-year bond-type net lease. They include a 91,000-sf manufacturing facility in Tacoma, WA; a 64,000 sf manufacturing facility in West Jordan, UT; a 67,000-sf manufacturing facility in Perris, CA; and a 23,000-sf office building in Eugene, OR.
The facilities were purchased on behalf of Corporate Property Associates 14 Inc., a member of the $3.5-billion W. P. Carey Group of publicly held non-traded REITs.
The sale-leaseback will provide PW Eagle with more than $13 million in financing.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 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.
