Thank you for sharing!

Your article was successfully shared with the contacts you provided.

FORT COLLINS, CO-On behalf of one of its funds, W. P. Carey & Co. LLC has acquired a 65,000-sf pharmaceutical manufacturing facility here for $13.6 million. Located at 701 Centre Ave., the facility is fully leased to the seller, Tolmar Inc.

The property was acquired on behalf of Corporate Property Associates 16 – Global Incorporated. Tolmar occupies the building under a long-term, triple-net lease, according to W.P. Carey.

Tolmar used the proceeds to finance its acquisition of the majority of the US assets of QLT Inc., a Canadian biopharmaceutical company. Tolmar is using QLT to enter the US market with manufacturing capabilities in multiple drug areas.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information

GlobeSt. NET LEASE Awards 2021Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.