W.P. Carey (WPC) lands another sale-leaseback deal with two of its non-traded REIT affiliates purchasing the State Farm Operation center in Austin. The price was about $110M and the lease to State Farm has an initial term of 15 years.
The facility is about 450K square feet located in a master-planned corporate park 10 miles northwest of downtown Austin. It's been Sate Farm's operation center since 1994.