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$13.7M Sale-Leaseback for PW Eagle

MINNEAPOLIS-W. P. Carey & Co. buys 245,000 sf in Tacoma, WA; West Jordan, UT; Perris, CA; and Eugene, OR. It then leases them back to the manufacturer and distributor of PVC and PE pipe under 20-year bond-type net leases.

By Jim McCartney | Updated on March 22, 2002

MINNEAPOLIS-W. P. Carey & Co. has acquired and leased backed four facilities from Minneapolis-based PW Eagle for about $13.7 million. PW Eagle is a manufacturer and distributor of polyvinyl chloride pipe and fittings and polyethylene pipe and tubing products, and is controlled by principles of Spell Capital Partners, a private equity and buyout firm based in Minneapolis.

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.

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