Leading solar manufacturer
W. P. Carey acquires state-of-the-art industrial facility in Infill Dallas Fort-Worth
Tenant Description: One of the world’s largest solar technology and renewable energy companies
Transaction Type: Acquisition of existing lease*
Location: Texas
Facility Type: Class A industrial facility
W. P. Carey completed the acquisition of a Class A industrial facility in Texas. Totaling 757,000 square feet, the asset is triple-net leased to one of the largest solar module and energy storage manufacturers globally.
The facility is a newly constructed industrial facility, featuring cross docks, a 40’ clear height, 185-foot truck courts and 124 trailer parking stalls. The property is well located in the Dallas-Fort Worth Metroplex, which is currently the third largest industrial market in the U.S.
The facility is connected to the tenant's adjacent manufacturing building through a climate-controlled corridor, allowing for efficient product transfer across the tenant’s two-building advanced manufacturing complex.
The property is net leased for a term of approximately 10 years with fixed annual rent increases.
*In an acquisition of an existing lease, W. P. Carey will acquire a single-tenant property subject to an existing net lease. This type of transaction enables the previous property owner to achieve a number of different objectives depending on their needs. For example, exit a property that no longer fits its strategy, liquidate a finite-life fund or generate proceeds to invest in new properties or for M&A activity.
This acquisition underscores our commitment to investing in high-quality assets leased to best-in-class tenants. Dallas-Fort Worth is one of the most dynamic industrial hubs in the U.S., and this newly constructed, Class A facility – with its modern specifications and strategic location – perfectly aligns with our investment approach.