| Grubb & Ellis' Jonathan Wolfe and Jordan Shtulman (looking like angels with that fantastic backlighting) say sale-leasebacks are becoming increasingly popular for mid-market companies looking to adjust cash flows. The team just sold and leased back a portfolio of three buildings in suburban Chicago and Houston for Sigma International this week. The two industrial buildings totaling 73k SF at 21699 Torrence Ave and 2701 Kalvelage Dr in Sauk Grove Village and 100k SF building Houston sold for an undisclosed price to an undisclosed buyer (we disclosed everything we knew). As companies continue to grow and the economy improves, they'll need more sources of working capital. Sale-leasebacks are a great solution because they take the dollars in a non-earning asset (real estate) and put them into earning assets (equipment, product inventory, personnel, etc.) Jonathan and Jordan expect this will be important for mid-sized companies looking to grow throughout 2011 and 2012. |
SALE-LEASEBACKS COME ON STRONG
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Jonathan Wolfe
, Jordan Shtulman
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