MINNEAPOLIS—CPA®:18 – Global, a non-traded REIT affiliate of W. P. Carey Inc., a New York-based REIT, has just purchased from Liberty Property Trust a 191,000-square-foot office and R&D facility in suburban Plymouth for about $43 million. The facility is leased to Alliant Techsystems Inc. for a period of about 10 years and is just the latest big purchase by W.P. Carey or its affiliates of top industrial product net-leased to high credit companies.
Earlier this year, GlobeSt.com reported, for example, that CPA®:18 – Global completed an $85 million acquisition of the giant Dart Container/Solo Cup National Distribution Center located in suburban Chicago. At 1,552,475-square feet, it was the largest Chicago-area transaction involving corporate distribution space since early 2006.
Properties acquired by W.P. Carey typically are the most modern, up-to-date facilities with long-term leases to companies that consider the assets critical to their operations. The ATK building is no exception.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
