W.P. Carey has acquired four industrial investments in December 2020 totaling approximately $121 million and covering more than 1.5 million square feet.
The four announced investments are triple-net leased to industry-leading tenants, with a weighted-average lease term of approximately 23 years and comprise the following:
$39 million sale-leaseback of four manufacturing facilities totaling 488,800 square feet, located predominantly in the Midwest and net leased to one of the largest U.S. contract manufacturers of nonresidential precast concrete wall panels. The company benefits from a diverse customer base, with its products primarily used in the construction of distribution centers, industrial facilities, mixed-use offices, retail locations and data centers. The facilities are located in Ohio, Pennsylvania, Minnesota and Kansas, and have high operational criticality, comprising the company’s entire manufacturing footprint. They are triple-net leased under a
