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W.P. Carey Affiliate Pays $25M for Sterling Warehouse

Developer Sells Cuisine Solutions Facility
January 23, 2013
CPA 17-Global LLC, the REIT affiliate of W.P. Carey, purchased an industrial building at 1501 Moran Road in Sterling, VA, from Cambridge for approximately $25 million, or about $153 per square foot.

The 163,110-square-foot property was constructed in 1980 and will be fully occupied by Cuisine Solutions, a prepared foods company that signed a 20-year lease.

Andrew Czejak was the in-house representative for Cambridge and Richard Pinola represented CPA 17-Global internally.

Please see CoStar COMPS #2594193 for more information on this transaction.

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