W. P. Carey Inc. (NYSE: WPC) has completed a $70 million sale-leaseback of a mission-critical food production and distribution site in the Northeast that is powered entirely by renewable, clean energy sources.
The site, which is powered by a combination of wind turbines and hydroelectric energy, consists of six buildings totaling more than 400,000 square feet. The buildings are triple-net leased under a master lease for a period of 25 years to an industry-leading supplier of ice cream and beverages.
“We are pleased to have completed this accretive transaction with one of the country’s largest ice cream and beverage brands, and to add an environmentally-responsible asset to our portfolio,” said Andrés Dallal, executive director of investments at W. P. Carey.
(Contact: Sarah Borchersen-Keto at email@example.com)