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.”
Please contact brokers, Chelsea Mandel and Phil DiGennaro, for further details on this transaction.
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