NEW YORK – W.P. Carey Inc. has recently completed four investments totaling $170 million. The investments span 11 million square feet and consist of operationally-critical properties that are net-leased to tenants with a weighted-average lease term of 16 years.
The four investments bring W.P. Carey's year-to-date investment volume to $765 million, with a weighted-average lease term of 22 years.
The first of the four investments includes the $65 million sale-leaseback of a 316,300-square-foot, state-of-the-art food production facility. The facility is triple-net-leased for 25 years with fixed annual rent escalations to a leading shelf-stable, dairy-based food and beverage product supplier. The technologically advanced, mission-critical facility is located in the Midwest. The tenant company has made substantial investments to the building; more than tripling its capacity within the ready-to-drink beverage market and achieving consistent revenue growth in recent years.
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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.
