J.M. Mullis, Inc.

W. P. Carey Acquires New York Distribution Center for $45M in Sale-Leaseback Transaction

Our firm has the ability to not only find the best possible location, but we can also help clients with their needs to finance the project in any possible manner. >>

In a sale-leaseback transaction, W. P. Carey has acquired a 779,000-square-foot distribution center in Rome, about 40 miles northeast of Syracuse. The purchase price was $45 million. Orgill, an independent hardware distributor, occupies the newly constructed property, which is located near Interstate 90. Orgill uses the facility as its primary regional distribution center. W. P. Carey now owns four of Orgill’s seven U.S. distribution centers. The property is triple-net leased for a period of 26 years with fixed rent escalations. https://rebusinessonline.com/w-p-carey-acquires-new-york-distribution-center-for-45m-in-sale-leaseback-transaction/

3753 Tyndale Drive Suite 101
Memphis, TN 38125
Phone 901.753.0373
Fax 901.753.7487

Our Mission

To provide objective and factual evaluations on a very cost effective and accelerated basis; and to be certain that the Firm’s clients make the most qualified location candidate selection decisions possible. To negotiate incentive packages which are fair and equitable to all parties involved. To develop long-term relationships and partnerships based on old-fashioned values.

J. M. Mullis, Inc. 2024. All Rights Reserved.