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W. P. Carey's $23 Million Acquisition of Avnet Facility Adds to Managed Portfolio

PHOENIX—W. P. Carey Inc. announced yesterday that CPA:17 – Global, one of its publicly-held non-traded REIT affiliates, has acquired an office building in Tempe, Ariz. leased to Avnet, Inc.

By Kristian Seemeyer | Updated on January 06, 2014

PHOENIX—W. P. Carey Inc. announced yesterday that CPA:17 – Global, one of its publicly-held non-traded REIT affiliates, has acquired an office building in Tempe, Ariz. leased to Avnet, Inc.  The facility serves as the global headquarters of Avnet’s Technology Solutions group. The purchase price was approximately $23 million.

The property is leased for ten years to Avnet, Inc., one of the largest distributors of electronic components, computer products and embedded technology serving customers globally.

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