Gino Sabatini, W.P. Carey Managing Director
NEW YORK – W.P. Carey Inc. has announced a completed $70 million sale-leaseback of a food production and distribution site in the Northeast region of the US. The production site consists of more than 400,000 square feet across six buildings, which are triple-net leased under a long-term master lease of 25 years with fixed annual rent escalations, to an ice cream and beverage supplier tenant.
The environmentally-responsible production site is powered by renewable, clean energy sources through wind turbines and hydroelectric energy, and has served as the supplier company's headquarters and primary production facility since its founding. The tenant company, a CBRE client, has invested in the multi-property site over the years to accommodate growth, improve operations and implement additional green initiatives.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
