W.P. Carey Completes $70M Sale-Leaseback for Food Production Plant in New York City
NEW YORK CITY — W.P. Carey, a publicly traded REIT specializing in sale-leasebacks, build-to-suits and single-tenant net-leased properties, has completed the $70 million sale-leaseback of a food production and distribution plant in New York City. The seller and tenant was an undisclosed provider of ice cream and beverage products that has used the 400,000-square-foot property as its headquarters and primary production facility since it was founded. The tenant is under a triple-net lease with a term of 25 years.