CHICAGO, IL – July 6, 2020 – STREAM Capital Partners, LLC, a leading global net lease and sale leaseback advisory group, recently represented the buyer and seller in the $4,200,000 sale leaseback of a single tenant industrial property in Lexington, Tennessee.
The 130,000 square-foot property serves as the sole manufacturing, distribution and headquarters property for DeWayne’s Quality Metal Coatings.
Wolfe said about the transaction, “this was a tough deal to get done due to the small credit company and tertiary market location – not to mention COVID – but the buyer and seller worked hard to come to mutually agreeable terms. The buyer gets a long-term lease with a solid business and the seller was able to use the proceeds from the sale to pay off existing debt and strengthen its balance sheet.”
Shtulman added that “we expect sale leaseback activity to pick up even more as companies look for alternative sources of liquidity. We think sale leasebacks are a great alternative because cash tied up in owned real estate is cash tied up in a non-earning asset.”