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Carey Inc. has executed a $102 million sale-leaseback of a supermarket portfolio encompassing 27 properties located in Northern Spain and the Balearic Islands.</p>","<p>With the recent acquisition, the net lease REIT's year-to-date investment volume totals $700 million.</p>","<p>The 481,000-square-foot portfolio is triple-net leased under three 20-year master leases with Spanish CPI-based rent escalations to the existing tenant, European food retailer, Eroski Sociedad Cooperativa.</p>","<div class=\"paywall-content\"><p>Eroski, established in 1969, serves as one of Spain's largest supermarket chains; operating more than 1,600 retail stores.</p>","<p>The portfolio's properties are predominantly situated in dense residential neighborhoods, with limited local competition.</p>","<p>The portfolio's facilities have experienced steady sales growth within recent years, alongside the Spanish food retail market, which has grown consistently, due to rising shopper spending and demand remaining largely unaffected by COVID-19.</p>","<p>The food retailer continues to invest in new technologies and digitalization in order to create an omnichannel experience. 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