Partial Sale-Leasebacks Rise in Popularity
SOURCE: GlobeSt.com
Global information technology firm Unisys Corp. disposed of a 356,000-square-foot suburban Philadelphia office property in a $19.5-million sale-leaseback that closed late last year. But unlike your traditional sale-leaseback transaction, in which the seller continues to occupy the entirety of a facility, Unisys leased back only about half of the space at the Malvern, PA asset.
Such partial sale-leasebacks aren’t an entirely new phenomenon, but they appear to be on the rise, at a time when increased interest in sale-leasebacks in general is anticipated.
“A lot of corporations have identified that using a sale-leaseback is a great way to take capital they have tied up in real estate and invest that in their business,” says Jones Lang LaSalle capital markets senior vice president Suzanne Martinez, who along with managing director Mindy Berman and corporate solutions SVP Ken Zirk represented Unisys in its deal.
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Global information technology firm Unisys Corp. disposed of a 356,000-square-foot suburban Philadelphia office property in a $19.5-million sale-leaseback that closed late last year. But unlike your traditional sale-leaseback transaction, in which the seller continues to occupy the entirety of a facility, Unisys leased back only about half of the space at the Malvern, PA asset.
Such partial sale-leasebacks aren’t an entirely new phenomenon, but they appear to be on the rise, at a time when increased interest in sale-leasebacks in general is anticipated.
“A lot of corporations have identified that using a sale-leaseback is a great way to take capital they have tied up in real estate and invest that in their business,” says Jones Lang LaSalle capital markets senior vice president Suzanne Martinez, who along with managing director Mindy Berman and corporate solutions SVP Ken Zirk represented Unisys in its deal.
Read full story »
