NEW YORK CITY — W.P. Carey Inc. (NYSE: WPC) has acquired a 1.5 million-square-foot portfolio of net-leased properties for $149 million. The acquisition comprises three separate deals involving industrial and retail properties in various markets, including California, New Jersey and Pennsylvania. In the first deal, the New York City-based REIT acquired two cold storage production and distribution facilities in California’s Central Valley region. The tenant, a summer fruit grower, sold the properties to W.P. Carey for $75 million in a sale-leaseback transaction. The tenant signed a 25-year, triple-net lease with fixed annual rent increases. In the second transaction, W.P. Carey purchased seven auto dealerships totaling 170,000 square feet that were net leased to Auto Lenders, a retailer of used vehicles, for $55 million. Located in New Jersey and Pennsylvania, the facilities comprise the entirety of Auto Lenders’ operating footprint, including dealerships, servicing centers and headquarters for each of its business segments. The seller was not disclosed. In the third deal, the firm acquired two industrial facilities totaling 296,300 square feet that were net leased to a global plastics distributor. The tenant, which has committed to a 20-year, triple-net lease with fixed annual rent increases, sold the properties to W.P. Carey …
