W.P. Carey Acquires Dulles REO Asset

DULLES VA-W.P. Carey has acquired an industrial manufacturing building located at 1501 Moran Rd. here. The 163,110-square-foot property traded as a structured sale crafted by Cambridge Holdings LLC on behalf of its owners, via the acquisition of existing debt, which was used to acquire title.

Cambridge also assisted with the leasing of the facility on a 20-year NNN basis to Cuisine Solutions. The building will serve as the primary manufacturing facility for Cuisine and as their new headquarters. Marcus & Millichap also assisted in the sale. Everyone left the sale relatively pleased, says T. Michael Scott, president and vice-chairman of Cambridge, in a prepared statement.