Net Lease News

UK Courts in £145 Million Build-to-Suit for Justice Center in Manchester

2008-03-03T22:10:00.000-05:00

The Press Association - February 27, 2008The Queen will visit the largest civil and family court to be built for more than 100 years in England and Wales.Her visit will include the unveiling of a plaque at the official opening of the Manchester Civil Justice Centre, a new £145 million building in the city centre. The Queen will be accompanied by Lord Chancellor and Secretary of State for Justice

VeriSign Seeking Sale Leaseback of Silicon Valley HQ

2008-01-21T20:20:00.000-05:00

Silicon Valley / San Jose Business Journal - January 21, 2008VeriSign Inc. has put its Mountain View corporate headquarters up for sale. According to offering documents, VeriSign will entertain several purchase options, including the sale of the entire campus to a single buyer or the sale of its "North Buildings," to one party and the sale of its "South Buildings" to another. The North Buildings

Swedish Gov't Signs Build to Suit for $102 Million Detention Facility Near Stockholm

2008-01-12T16:46:00.000-05:00

Skanska Web Site - January 9, 2008Skanska will be responsible for a total solution, including planning, construction, operation and maintenance of the new detention facility in Sollentuna, north of Stockholm. The construction project is valued at an estimated SEK 650 M and is being included in order bookings for the first quarter. A 25-year lease has been signed with Kriminalvården (Swedish

Ponto Frio Completes $62 Million Sale Leaseback of Four Distribution Centers in Brazil

2008-01-12T16:40:00.000-05:00

Gazeta Mercantil - January 9, 2008Bracor real estate investment company bought four distribution centers (CDs) of Globex Utilidades - which controls the retail chain Ponto Frio - for R$109 million. The operation was carried out through the sale-leaseback system, in which the owner sells the real estate and rents it by means of long-term contracts. In this case, the rent contract closed between

BVIC Group Signs EUR 80 Million Sale Leaseback of New Building in Athens

2008-01-12T16:06:00.000-05:00

BVIC Group Web Site - January 9, 2008BVIC Group is pleased to announce that a sale and leaseback agreement for €80 million was signed with Emporiki Leasing and ATE Leasing. The 20 year sale and leaseback agreement covers all of the lettable area, and common area, as well as the parking spaces of the development under construction at 340 Syggrou Avenue. Specifically, it covers 4,587sqm of office

Home Depot Enters $41 Million Sale Leaseback of Distribution Center in Virginia

2008-01-12T15:51:00.000-05:00

The Winchester Star - January 12, 2008The Home Depot Distribution Center at Eastgate Commerce Center has been sold to a private equity firm as part of 10-year lease-back agreement that will keep the massive warehouse operating in Frederick County for at least another decade.Equity Industrial Winchester LLC and Equity Industrial Winchester LP, both based in Needham, Mass., bought the 842,000-

Gambro AB Agrees to $62 Million Sale Leaseback of Properties in Germany

2008-01-12T15:46:00.000-05:00

Trading Markets / Nordic Business Report - January 9, 2008Swedish property company AB Sagax said on Wednesday (9 January) that it has signed a SEK395m property sales and lease-back agreement with the Swedish medical technology group Gambro AB. The agreement, based on an option agreement initially announced in December 2007, covers Gambro's properties in Hechingen, Germany. Sagax, headquartered in

California Pacific Medical Center Signs 10 Year Lease For San Francisco Office Building

2008-01-11T22:38:00.000-05:00

The Swig Company Web Site - January 9, 2008A 171,000-sf office building here being vacated by Wells Fargo at the end of the month has been scooped up by the city’s largest hospital, California Pacific Medical Center, which signed a 10- year lease for the entire building. Built in the mid-1960s at 633 Folsom St. and renovated twice in the 1990s, the seven-story structure is owned by Swig Co., a

Ogilvy New York Signs Long Term Lease for 554,800 SF HQ Building in Manhattan

2008-01-11T22:00:00.000-05:00

Ogilvy Web Site - January 9, 2008Ogilvy New York will move its entire New York agency and New York-based operating units to 636 Eleventh Avenue in 2009. Ogilvy will occupy all of the 11-story, 554,800 sq. ft building that encompasses the entire eastern block on 11th Avenue between West 46th and West 47th Streets in a long term lease signed with owner, The Hakimian Organization and its partners

Future Electronics Signs 10 Year Lease For New UK HQ

2008-01-08T11:17:00.000-05:00

Property Week - January 8, 2007Future Electronics, a global electronic company, has agreed terms to move its European headquarters to one of Staines’ most prominent office buildings. The company has taken the entire 68,000 sq ft Aura building, owned by GE in partnership with Steve Morgan and Trevor Silver’s Landid. Future Electronics will pay £29/sq ft on a 10-year lease for the refurbished

GE Energy Signs Long Term Lease for New HQ in Stamford

2008-01-07T17:16:00.000-05:00

The Advocate - January 5, 2008GE Energy Financial Services plans to move into the 275,000-square-foot former Xerox Corp. headquarters at 800 Long Ridge Road in Stamford about a year from now, the building's owner said yesterday.Norwalk-based Building & Land Technology said GE Energy Financial Services will begin its 15-year lease in January 2009, when renovations are scheduled to be completed.GE

Nokia Siemens Networks Closes Sale Leaseback of Office Complex in Finland

2008-01-07T10:03:00.000-05:00

Aberdeen Property Investors - January 4, 2008Aberdeen Real Estate Fund Finland L.P. has acquired the Hatanpään valtatie 30 property in Tampere, Finland. The property was built in three phases between 1998 and 2000 with a total area of approximately 50,000 square metres. The transaction is structured as a sale and lease-back transaction involving the Fund, Nokia Siemens Networks and Nordea Finance

AT&T Completes $275 Million Sale Leaseback of Chicago Office Tower

2008-01-04T10:12:00.000-05:00

Crains Chicago Business News - January 2, 2007A New Jersey real estate firm has purchased the 31-story West Loop office of AT&T Inc. for $275 million in a sale-leaseback deal. Kushner Cos. closed on the purchase Friday of 225 W. Randolph St. from the San Antonio-based telecom giant, according to a source familiar with the matter. AT&T signed a 15-year lease for all the office space in the

Banco Popular Completes $26 Million Sale leaseback of Five Bank Branches in New York City

2008-01-03T11:45:00.000-05:00

CoStar Group - December 28, 2007MLM Partners LLC has acquired a portfolio of five New York properties owned and occupied by financial services firm Banco Popular for a total of $26.25 million, or about $690 per square foot. The properties are at 2927 3rd Ave. and 1046-50 Southern Blvd. in the Bronx, 162-66 E. 116th St. in Harlem, and 918 Seneca Ave. in Flushing. The deal also included a parking

Goodyear Agrees to 20 Year Lease on New Build-to-Suit HQ in Akron, OH

2008-01-02T22:46:00.000-05:00

Site Selection Online - December 31, 2007Goodyear Tire & Rubber Co. said Wednesday it plans to sell its headquarters to a firm that would redevelop the site and lease a new office to the nation's biggest tire maker. The tentative deal would keep Goodyear's corporate offices in the city where it was founded in 1898.Goodyear's new 450,000-sq.-ft. (40,500-sq.-m.) world headquarters will be built by

Flextronics Completes Sale Leaseback of 500,000 SF Industrial Complex in Silicon Valley

2007-12-31T21:07:00.000-05:00

Commercial property News - December 28, 2007Westcore Properties L.L.C. has snapped up a nine-structure manufacturing complex in Milpitas, Calif., owned by electronics manufacturing services provider Flextronics International USA Inc. Flextronics will stay put as the sole occupant of the buildings, which account for an aggregate 499,200 square feet of industrial space, under a 10-year lease

SEB Group Completes EUR 185 Million Sale Leaseback of 54 Properties in the Baltics

2007-12-30T17:33:00.000-05:00

CNW Group - December 28, 2007Homburg Invest Inc. announces that it has finalized its acquisition of the “Baltic” portfolio consisting of 54 properties located in Estonia, Latvia and Lithuania (the “Baltic’s”) from SEB Group (“SEB”). The transaction was previously announced on April 26, 2007, when SEB and Homburg Invest entered into an agreement to acquire the Baltic portfolio. Due to the exercise

Amazon.com Enters 1.6 Million SF Build-to-Suit for New Headquarters in Seattle

2007-12-30T12:22:00.000-05:00

Cityfeet / GlobeSt - December 27, 2007Amazon.com has inked a 1.6-million-sf headquarters deal with Vulcan Inc. and Schnitzer West. The deal calls for the online retailer to occupy 11 new buildings to be built on six blocks located immediately north of the Seattle CBD in the South Lake Union area.Amazon.com expects to begin moving into its new office space in mid-2010, with full occupancy in 2011.

Metro Completes EUR 243 Million Sale leaseback of 12 Hypermarkets in Germany

2007-12-26T22:43:00.000-05:00

Property Week - December 23, 2007Israeli investor Delek Real Estate has bought a chain of retail properties in Germany from retailer Metro for (£176m). Delek Real Estate is carrying out the German purchase through its sub-subsidiary Delek Global Real Estate, which is listed on AIM. The company is also seeking a partner to take a 20% stake in the deal. Delek Global is buying 12 hypermarkets

Nippon Oil Agrees to $370 Million Sale Leaseback of Seven Buildings

2007-12-26T22:36:00.000-05:00

Bloomberg - December 27, 2007Nippon Oil Corp., Japan's biggest petroleum refiner, said it will sell and lease back all of its buildings for 42.3 billion yen ($370 million) as the company seeks to improve its balance sheet. Tokyo-based Nippon Oil by the end of January will sell seven buildings, which will then be securitized, the company said in a statement on its Web site yesterday. Nippon Oil

Alimentation Couche-Tard Completes $131.4 Million Sale Leaseback of 83 Convenience Stores Across US

2007-12-24T17:32:00.000-05:00

Alimentation Couche-Tard Web Site - December 21, 2007Alimentation Couche-Tard Inc., Canada's leading convenience store operator with over 5,600 stores, announces that it has entered into, through its subsidiaries Circle K Stores Inc. and Mac’s Convenience Stores LLC., a sale and leaseback transaction with Cole Credit Property Trust II, Inc. relating to 83 properties sold for total gross selling

Foster's Completes $41 Million Sale Leaseback of Property Portfolio in Melbourne

2007-12-21T14:39:00.000-05:00

The Sydney Morning Herald - December 21, 2007Charter Hall announces that its managed fund DPF, has acquired in joint venture with the Perth based Wyllie Group, a $41 million portfolio of properties located within the inner city Melbourne suburb of Abbotsford.The publicly listed Fosters Group has leased back the portfolio of 10 properties for 10 + 5+ 5 year periods. The properties are located

Mannesmann Plastics Machinery GmbH Completes €113 Million Sale Leaseback of Three Facilities in Germany

2007-12-21T13:02:00.001-05:00

SEGRO Web Site - December 21, 2007SEGRO has agreed a sale and leaseback with MPM (Mannesmann Plastics Machinery) on three industrial sites in Germany, at Munich, Nuremberg and Hanover. The leaseback is for a minimum term of 15 years and the transaction represents a net initial yield of 7.1%, this yield will increase with indexation. The value of the Munich site is approximately two thirds of this

Accor Agrees to €518 Million Sale Leaseback of 57 Hotels in France and Switzerland

2007-12-20T17:53:00.000-05:00

Accor Web Site - December 20, 2007As part of its real estate management strategy, Accor has announced the signature of a memorandum of understanding to sell 47 hotels in France and 10 in Switzerland to a Real Estate Consortium including Caisse des Dépôts et Consignations and two investment funds managed by AXA Real Estate Investment Managers (European Hotel Venture & Alternative Property Income

Daimler Agrees to Sale Leaseback of Office Space at Potsdamer Platz in Berlin

2007-12-17T23:02:00.000-05:00

Daimler Web Site - December 14Stuttgart, December 14, 2007 - Daimler (stock-exchange abbreviation DAI) has sold the “Quartier Potsdamer Platz” to SEB Asset Management, based in Frankfurt am Main. The complex comprises a total of 500,000 square meters of floor space above and below ground with 19 buildings. 42% of the property is high-quality office space, 22% is used for retail purposes, and the