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.
“Sale leasebacks have been and will continue to be an attractive source of financing due to low interest rates, constrained capital budgets facing corporate America and the desire to lock in favorable long-term occupancy costs,” said CBRE’s Sandquist. “Sale leaseback transaction volumes are approaching record levels and expected to maintain a steady course. It is an ideal time for companies to leverage investor demand for this type of investment.”