W.P. Carey reports $53M of industrial investments
Jun. 24, 2019 8:57 AM ETW. P. Carey Inc. (WPC)WPCBy: Liz Kiesche, SA News Editor3 Comments
- W.P. Carey (NYSE:WPC) reports recent investments in triple-net leased industrial properties to tenants with strong private equity sponsorship and a weighted average lease term of 20 years. The transactions include:
- A $19M sale-leaseback of a 301K square-foot warehouse and light manufacturing facility in Statesville, NC, net leased to Founder Sport Group; the property operates as Founder Sport Group's primary fulfillment center;
- A $24M sale-leaseback of eight production facilities totaling 525K square feet in the U.S. and Mexico an net leased to a global manufacturer of electrical wire harnesses, control, boxes and other value-added components;
- A $10M sale-leaseback of two manufacturing and distribution facilities totaling 147K square feet in Westerville, OH, and North Wales, PA, net leased to Integrated Warehouse Solutions, a maker of specialty heavy-duty industrial material handling equipment and a provider of warehouse safety solutions.