CHICAGO, IL – October 21, 2019 – STREAM Capital Partners, LLC, a national net lease and sale-leaseback advisory group, has arranged the sale and leaseback of an industrial facility in Cleveland, Ohio.
The facility is occupied by Midwest Precision, a subsidiary of Tribus Aerospace, and is used for CNC machining of complex configurations for applications in the aerospace, military and defense, and precision industrial markets. This is a mission-critical asset for the company and the business has invested significantly into the property.
The private buyer acquired the property and simultaneously entered into a long-term lease with the tenant. Chelsea Mandel and Phil DiGennaro of STREAM Capital Partners represented the seller on the transaction.
Mandel said of the transaction, “This was a positive transaction for both our client and the buyer. The buyer is a private buyer who is diversifying his net lease portfolio by acquiring a high-quality industrial property with a long-term lease to a strong credit tenant. Our client is able to use the proceeds from the sale leaseback as working capital to fund corporate growth.”