Plastics manufacturer completes sale-leaseback

Precise Technology plans long-term occupancy

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Investment firm W. P. Carey & Co. LLC acquired and leased back a warehouse and manufacturing facility in Buffalo Grove, Ill. The value of the transaction was $16.4 million. Precise Technology, a manufacturer of injection molded precision plastic products, will occupy the 264,000-square-foot facility under an initial lease term of 20 years. This represents W. P. Carey's second sale-leaseback transaction with Precise Technology, a portfolio company of Chicago-based private equity firm, Code Hennessy & Simmons LLC. *** What's your opinion? Send your Letter to the Editor to opinion@inman.com....