Plumbing and Mechanical

Investment Firm Acquires Warehouses From Plumbmaster

April 9, 2004
Investment firm W.P. Carey & Co. LLC acquired two warehouse facilities from Plumbmaster for $9.8 million, to be leased back to Plumbmaster.

Investment firm W.P. Carey & Co. LLC acquired two warehouse facilities from Plumbmaster for $9.8 million. The warehouses -- located in Oceanside, Calif., and Concordville, Pa. -- will be leased to Plumbmaster under a 20-year triple-net lease with two, 10-year renewal options.

The transaction was part of Bradford Equities Management's purchase of Plumbmaster.