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.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.