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.

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