MINNEAPOLIS—CPA®:18 – Global,a non-traded REIT affiliate of W. P. Carey Inc., aNew York-based REIT, has just purchased from LibertyProperty Trust a 191,000-square-foot office and R&Dfacility in suburban Plymouth for about $43 million. The facilityis leased to Alliant Techsystems Inc. for a period of about 10years and is just the latest big purchase by W.P. Carey or itsaffiliates of top industrial product net-leased to high creditcompanies.
Earlier this year, GlobeSt.com reported, for example, thatCPA®:18 – Global completed an $85 million acquisition of the giantDart Container/Solo Cup National DistributionCenter located in suburban Chicago. At 1,552,475-squarefeet, it was the largest Chicago-area transaction involvingcorporate distribution space since early 2006.
Properties acquired by W.P. Carey typically are the most modern,up-to-date facilities with long-term leases tocompanies that consider the assets critical to their operations. The ATK buildingis no exception.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
