Finance Net Leasing
286,000-SF Sale-Leaseback Deal Incorporates Houston Food Distributor's Expansion
Aug 15, 2008

Two years after developing its 286,000-square-foot Houston headquarters and distribution center, Glazier Foods Co. Inc. has sold the Class A property in a triple-net sale-leaseback transaction with GSL Welcome Group L.L.C. Located at 11303 Antoine Dr., Glazier's home occupies 33 acres just off the North Sam Houston Parkway. The deal, which Houston-based GSL made through its GSL Fund 21 GF Sub E L.L.C., encompasses a $14 million expansion project that will leave the food service distributor with an additional 160,000 square feet of freezer and dry storage space. GE Capital supplied GSL with financing for both the acquisition and the expansion endeavor. Yancey-Hausman Commercial Real Estate Services marketed the property on behalf of Glazier and attracted the attention of a bevy of industrial REITs that submitted bids for the headquarters campus.

 
Recent Net Leasing Headlines
Ben Butcher STAG Capital Kicks Off Industrial Fund with Anticipated $1.3B Buying Power
Nov. 19, 2008
Boston-based STAG Capital Partners has initiated STAG Investments V L.P., a fund targeting commitments of $400 million for the acquisition of predominantly high-yield single-tenant industrial properties across the country.
CBRE Promotes 4 to SVP
Nov. 18, 2008
CB Richard Ellis has promoted Sacha Zarba, Doug Lehman, Andrew Sussman and Bill Mooney to senior vice president.  They were previously first vice presidents.
ProLogis Leases 750,000 SF near Chicago
Nov. 13, 2008
ProLogis has leased approximately 750,500 square feet near Chicago to Kimberly-Clark Corp., a leading global, health and hygiene company.
ProLogis Secures $80M Financing for North American Industrial Fund
Nov. 12, 2008
Denver-based ProLogis has closed the deal for an $80 million financial arrangement on behalf of the firm's ProLogis North America Industrial Fund.
Bill Winn: Times Are Tough, Not Impossible
Nov. 11, 2008
CPN Contributing Editor Dees Stribling caught up with William Winn— president-elect of the Tenant-In-Common Association and president & partner in Passco Cos., a specialist in commercial real estate acquisition and management that in recent years has also developed a thriving subspecialty in sponsoring TIC deals. Like pretty much every corner of the real estate industry, TICs have seen better days, but Winn holds out long-term hope.
 

 

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