W.P Carey buys $15m NJ data center facility.W. P. Carey Group recently acquired a headquarters and data center facility leased to Xpedite, a global provider of transaction-based electronic messaging services for $15.5 million. Located in Tinton Falls, NJ, Xpedite has more than 21,000 corporate accounts and delivers between 11 and 12 million data communications daily. The 90,000 square foot facility, completed in 2001, was acquired on behalf of Corporate Properties Associates 16Global (CPA (Computer Press Association, Landing, NJ) An earlier membership organization founded in 1983 that promoted excellence in computer journalism. Its annual awards honored outstanding examples in print, broadcast and electronic media. The CPA disbanded in 2000. [R]: 16-Global), an affiliated income generating real estate investment trust (REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). ). This transaction represents the W. P. Carey Group's growing investment activity in the greater New York metropolitan area New York–Northern New Jersey–Long Island is the most populous metropolitan area in the United States and the third most populous in the world, after Tokyo and Mexico City. . The Group now owns more than 12.5 million square feet leased to companies including: Clear Channel Communications Not to be confused with clear channel radio stations, which are AM radio stations with certain technical parameters. Clear Channel Communications (NYSE: CCU) is a media conglomerate company based in the United States. , U-Haul, Lincoln Technical Institute, Inc. and Courtyard by Marriott Courtyard by Marriott is a brand of hotels owned by Marriott International. They have over 2,800 hotels worldwide, as of June 2007. Courtyard by Marriott is designed for business travelers. . Gordon F. DuGan, President of W. P. Carey & Co. LLC, said, "As one of the leading owners and lessors of corporate real estate in the world, we are excited to acquire this high quality asset in Tinton Falls. This recent transaction represents our continued interest in quality net leased real estate in the greater New York metropolitan area." W.P. Carey investment officer, Ben Harris, completed the transaction. |
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