MAKING HEADLINES AROUND THE GLOBE
Andrew Sandquist, JC Asensio and Briggs Goldberg represented the sellers, Singerman Real Estate and Green Door Capital, in the sale of Mars Petcare warehouse and distribution facility in Columbus. The 465,256-square-foot freezer warehouse is located at 5303 Fisher Road. Mars Petcare US, a subsidiary of Mars Inc., occupies the property with a long-term lease.
Andrew Sandquist, JC Asensio and Briggs Goldberg represented the Michigan-based seller, Huron Capital, in the transaction. The three properties in the portfolio are industrial food-grade production and distribution facilities with a freezer-cooler component. The buyer, a New York-based public REIT, purchased the property in a sale that closed in early August.
Andrew Sandquist, JC Asensio, Briggs Goldberg and Tyrell McGee represented Fibrix LLC in the four-property, 310,000-square-foot Texas and North Carolina portfolio. The deal, a sale/leaseback transaction, keeps the tenant in the properties through long-term leases. Purchased by STORE Capital, the transaction supplied Fibrix with a significant amount of capital to fund growth and paydown corporate debt.
JC Asensio, Andrew Sandquist, Briggs Goldberg and Tyrell McGee represented a Texas based private equity sponsor in the transaction. Located in the Northeastern U.S., the site consists of six buildings totaling more than 400,000 square feet, with are triple-net leased under a master lease to an industry-leading supplier of ice create and beverages.
Inland Western Real Estate Trust Inc., an affiliate of Inland Real Estate Group, acquired the North American headquarters of Zurich Financial Services AG, at 1400 and 1450 American Lane in Schaumburg, IL. The purchase price of the twin-tower complex was $140 million, or approximately $173 per square foot, and included a leaseback to Zurich Financial.
As a part of the deal, Zurich is guaranteed a flat net rent of $11 per square foot, excluding taxes and expenses, for 22 years. The numbers are based on a measurement of 808,000 square feet of space for the twin-tower complex, built in 1988.
Inland Real Estate Acquisitions, Inc., represented the buyer. CB Richard Ellis Inc. handled the sale/leaseback for Zurich Financial Services.
TORONTO, Nov. 1, 2013 /CNW/ – Edgefront Realty Corp. (“Edgefront”) (TSXV: ED) announces today that it has entered into an agreement dated November 1, 2013 with affiliates of RTL-Westcan Limited Partnership (“RTL Westcan” ), an Alberta limited partnership, and certain limited partners of RTL Westcan (collectively, the “Vendors”) to purchase, indirectly through the purchase of two newly created holding companies and a newly created limited partnership, a portfolio of 10 industrial properties (collectively, the “Properties”) totaling approximately 435,000 square feet of building area on approximately 122 acres of land located in Alberta, Saskatchewan, British Columbia and the Northwest Territories.
Andrew Sandquist of CBRE represented Raben Tire Co., LLC in the sale leaseback of 19 properties across five states, totaling 450,711 square feet. The transaction closed May.
Andrew Sandquist joined with JC Asensio and Briggs Goldberg of CBRE Corporate Capital Markets in Chicago and Chris Bosworth, Will Pike and Brian Pfohl of CBRE’s Atlanta office to serve as the exclusive advisor to Raben Tire in the sale-leaseback transaction.
The recently acquired properties, located in Arkansas, Illinois, Indiana, Kentucky and Missouri, have been acquired by the private real estate investment trust Broadstone Net Lease (BNL), which is managed by Broadstone Real Estate, LLC.
Andrew Sandquist and JC Asensio of CBRE's Corporate Capital Markets team have completed the sale and leaseback of a 2.1 million-square-foot global portfolio of bakery and distribution facilities to AG Net Lease in a transaction valued at $160 million.
Andrew Sandquist and JC Asensio represented CSM Bakery Solutions, LLC in the transaction. The transaction includes 18 properties located throughout the U.S., Canada, Germany and the United Kingdom. Monetizing the global portfolio coincided with the recapitalization of CSM Bakery Solutions.
Andrew Sandquist and JC Asensio of CBRE represented Forterra Buildings Products in a sale-leaseback transaction consisting of 49 properties for $217 million. The buyer was New York-based W.P. Carey Inc.
The properties combine for 4.0 million square feet and are spread across 29 U.S. states and two Canadian provinces. Forterra Building Products assumed a 20-year lease for each property. The transaction closed in May.
