Area Development News Desk (01/08/2016) |
W.P. Carey Inc., a global net lease real estate investment trust specializing in corporate sale-leaseback and build-to-suit financing and the acquisition of single-tenant net lease properties, announced that CPA:18 – Global, one of its managed non-traded REITs, acquired a 550,000-square-foot corporate headquarters and industrial printing facility for approximately $23 million in Menomonee Falls, Wisconsin.
The facility, which is 15 miles northwest of Milwaukee, is triple-net leased for 20 years to Arandell Corporation. According to the firm, the property has served as Arandell’s corporate headquartersand sole printing facility since 1981. Over the last 35 years, the company has invested in multiple expansions to the facility for its warehousing and printing operations. The facility is currently one of the largest web offset printing and binding facilities in North America. The triple-net lease is for 20 years with annual CPI escalations.
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