W. P. Carey has acquired a distribution facility in the Columbus metro area for $94 million. The facility is triple-net leased to HanesBrands for a remaining term of nine years.

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 Built in 2022, the distribution facility spans 1.2 million square feet and features 120 docks and 40' clear heights. It is less than five miles from the Rickenbacker International Airport and the Northfolk Southern Intermodal Terminal. Announcing the deal, the REIT pointed to the attributes of the Columbus market, noting that it is one of the most centrally located metro areas in the US, with nearly half of the US population accessible within a day's drive. "Because of this, Columbus has been one of the fastest growing industrial markets over the last several years," it said.

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"We're thrilled to acquire this high-quality, fungible asset as it aligns with our investment criteria and will make a great addition to our growing portfolio of real estate," says Tyler Swann, managing director of Investments at the REIT.

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