The facility consists of 85,000 sf of office space and 175,000sf of general manufacturing space. W.P Carey purchased it on behalfof Corporate Property Associates 15 Inc. The value of thelease-back is not being released by the parties involved and wasnot otherwise immediately available.

Pemstar Inc. provides engineering, manufacturing and fulfillmentservices from more than one million sf in 15 locations worldwide.Pemstar CFO Greg Lea says the sale-leaseback will be used toreducing debt, thereby positioning the company for futuregrowth.

CPA15 invests in single-tenant commercial properties which aretypically purchased under a long-term, triple-net lease in whichthe tenant is responsible for maintaining the premises, insuringthe buildings and paying real estate taxes. CPA 15 currently has anownership interest in 88 facilities net-leased to 27 tenantscomprised of more the 12.7 million square feet throughout the U.S.and Europe.