"With interest rates at historically low levels companies are realizing that now is a great time to lock in long-term financing," Gordon F. DuGan, president and co-CEO of WP Carey, points out.

The largest transaction was the $33.6-million acquisition of two manufacturing facilities located in Alsip, IL, and one each in Tolleson, AZ and Geddes, NY from a manufacturer of rigid plastic packaging products. The Carey Group will also fund the $3-million construction of an extension to the Tolleson facility. The plants, which total approximately 1.2 million sf, will be leased for an initial term of 10 years followed by two, 10-year renewal options.

Next up was the purchase of five office, manufacturing and warehouse facilities, which total more than 616,000 sf, for $29.3 million from an injection molded precision plastic products manufacturer. The facilities are located in Buffalo Grove, IL; Excelsior Springs, MO; Pittsburgh, PE; St. Petersburg, FL and West Lafayette, IN. The company will maintain control of the facilitates for an initial term of 20 years followed by two, 10-year renewal options.