The four properties, which total 245,600 sf of space, will be leased under a 20-year bond-type net lease. They include a 91,000-sf manufacturing facility in Tacoma, WA; a 64,000 sf manufacturing facility in West Jordan, UT; a 67,000-sf manufacturing facility in Perris, CA; and a 23,000-sf office building in Eugene, OR.
The facilities were purchased on behalf of Corporate Property Associates 14 Inc., a member of the $3.5-billion W. P. Carey Group of publicly held non-traded REITs.
The sale-leaseback will provide PW Eagle with more than $13 million in financing.
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