HanesBrands Inc.

W. P. Carey completes $94 million acquisition of Class-A distribution facility

Tenant Description: One of the largest global apparel manufacturers
Total Investment: $94 million
Transaction Type: Acquisition of Existing Lease*
Location: Columbus Metropolitan Area
Square Footage: 1.2 million square feet
Facility Type: Class-A distribution facility

In April 2024, W. P. Carey completed a $94 million investment in a Class-A distribution facility in the Columbus Metropolitan Area. The 1.2 million-square-foot facility, built in 2022, features 120 docks and 40-foot clear heights, making it highly functional for large-scale distribution. It is well located, less than five miles from the Rickenbacker International Airport and the Norfolk Southern Intermodal Terminal.

With proximity to major cities, including Detroit, Cleveland, Cincinnati, Louisville, Pittsburgh and Indianapolis, the Columbus MSA is one of the most centrally located metro areas in the U.S. With nearly half of the U.S. population accessible within a day’s drive, it’s become one of the fastest-growing industrial markets in recent years.

The facility is triple-net leased to HanesBrands, one of the largest global apparel manufacturers, recognized for its portfolio of well-known brands in everyday innerwear and activewear segments. The company’s portfolio of brands includes Hanes, Champion, Maidenform and Bali.

The investment highlights W. P. Carey’s established reputation as a preferred buyer for sellers seeking timely execution.

*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.