BUFFALO GROVE, IL-W. P. Carey & Co. has sold its 266,974-sf warehouse in the Corporate Grove Business Park for $16.4 million, leasing it back to Pittsburgh-based Precise Technology for 20 years. In 2025, the tenant has an option to extend the deal at 800 Corporate Grove Dr. for another 20 years.

Precise Technology is owned by Chicago-based private equity firm Code Hennessy & Simmons LLC. “This sale-leaseback transaction allowed us to monetize the true value of Precise’s real estate assets, which strengthened the company’s balance sheet and improved its future financing alternatives,” says Code Hennessy & Simmons vice president Mark A. Dolfato.

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