CHICAGO, IL – December 8, 2020 – STREAM Capital Partners, LLC, a national net lease and sale-leaseback advisory group, has arranged the sale and leaseback of Superior Drilling Products (NYSE American: SDPI), an innovator and manufacturer of drilling tool technologies, in Vernal, Utah.
The 44,485 square foot building sold to a private, all cash 1031 buyer at full asking price for $4,448,500, and simultaneously entered a 15-year lease. Jeff Lizzo and Chelsea Mandel of STREAM Capital Partners represented the seller in the transaction.
Lizzo said of the transaction, “This was an exciting opportunity for the seller to monetize its owned real estate and redeploy capital back into growing the business as well as expand efforts in the Middle East.”
Lizzo continued, “The seller had interest from both private and institutional buyers. Ultimately, the seller chose a private 1031 exchange buyer and closed seamlessly at full asking price.”
Please contact brokers, Jeff Lizzo and Chelsea Mandel, for further details on this transaction.