KANSAS CITY, MO-A 120,855 sf distribution facility leased by the Earle M.Jorgensen Co. has been acquired by W.P. Carey & Co. LLC onbehalf of Corporate Property Associates 14 Inc., apublic, non-traded real estate investment trust.

The property, located at 1800 Universal Ave. in Executive Park, was soldfor $6.5 million. The facility includes more than 10,000 sf ofoffice space and is situated on a 7.45 acre site.

Under terms of the transaction, the facility will continue to be leasedto EMJ under a 20-year, bond-type triple net lease. Jorgensen is ametals distribution company that processes and distributes 30,000different carbon, alloy, stainless and aluminum products to more than40,000 customers. The company is a portfolio company of Kelso & Co.,a private equity investment firm.

EMJ moved to Executive Park, just north of Downtown, from the WestBottoms about 15 years ago when Jorgensen merged with a sister company.”The location here is good for us and when we merged it was time todecide where was the best spot for us,” says David Baltuska, salesmanager at EMJ. “This is a great facility and where we think we need to bepositioned.”

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