Industrial Sale-Leasebacks Outnumber Retail, Office
Commercial Property News reports: Sale-leaseback deal volume got off to a slow start in January, not a surprising development in light of the generally sluggish investment sales market. According to Real Capital Analytics Inc., sale-leaseback deals totaled only $183 million for the month. That figure represents only a fraction of the volume tallied for January 2008, when Real Capital Analytics tallied $790 million.
In the biggest sale-leaseback deal reported so far this year, Gilead Sciences Inc. disclosed last Thursday that it had completed the $137.5 million acquisition of a 163,000-square-foot office building and 30 adjacent acres in Foster City, Calif. The transaction, a partial sale-leaseback, also provides significant room for growth to the buyer, a pharmaceutical development company, as it includes entitlements for 540,000 square feet of additional development.
View the full article on Commercial Property News: Industrial Sale-Leasebacks Outnumber Retail, Office
Posted by: Nina Turner