WP Carey Leeds way with UK deal

Real Estate Weekly, June 2, 2004

W. P. Carey & Co. LLC has acquired an office, manufacturing and warehouse facility in Leeds, UK, from the Polestar Group, the largest commercial printer in Britain., for approximately $27 7 million (15.5 million [pounds sterling).

Under the terms of the transaction, Polestar will maintain control of the 199,137 s/f facility, which will serve as the largest web-offset planting site in the U.K,. under a 25-year triple-net lease, with options to retain operating control longer. The transaction was acquired on behalf of Corporate Properties Associates 16.