NEW YORK, NY—W.P. Carey Inc., has acquired a portfolio of 14 trade counter and industrial assets in six different trade parks across Scotland. Carey made the acquisition through its non-traded REIT, CPA:18 – Global.
Trade counter assets are typically high volume showrooms or light retail businesses that require an element of retail space and use the balance of space for warehousing inventory and/or office purposes.
The assets were acquired from Cording Real Estate Group, a real estate owner and manager, for a purchase price of $17.8 million (£10.6M), excluding acquisition costs.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
