Another deal for W.P. Carey

Today's purchase is a 825K square foot distribution facility outside of Chicago for $48M. The property is leased to a subsidiary of J.M. Smucker for 9.5 years.

WPC's Gino Sabatini: "Chicago's South Suburban submarket, which includes 71M square feet of industrial warehouse space and has a general vacancy rate of 10.8%, has a diverse inventory of big-box distribution and manufacturing facilities and has seen a steady increase in activity as the market as a whole continues to improve."

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