DETROIT—The revival of the US auto industry has begun attracting national interest in many of the companies and properties that service it. W.P. Carey, a New York-based net lease REIT, for example, has just purchased a 75,300-square-foot building, located in suburban Farmington Hills, leased to North American Lighting. NAL designs, manufactures and supplies automotive lighting products for a host of vehicle manufacturers in North America.

Carey completed the $10.2 million acquisition on behalf of CPA(R):18 — Global, one of its managed REITs. As NAL’s technology research center, the property plays a key role in its operations, and the company has a twelve-year, triple net lease.

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