New York, New York – June 3, 2024 – Ascension Advisory is pleased to announce the successful completion of a $6.1 million sale leaseback transaction on behalf of a leading private equity-backed national provider of trailer leasing and maintenance services. This transaction involved the company selling the real estate of its Columbus, Ohio site to a reputable real estate investor, and leasing it back under a 15-year lease agreement.
The twenty thousand square foot facility sits on over 32 acres, of which about 10 acres are used for trailer storage. The site is a mission-critical location for the business, strategically located on the corner of two major highways, providing easy access to Columbus and with passing vehicles per day of over 241,000.
Chelsea Mandel, Managing Director of Ascension Advisory, remarked, "This was an attractive investment opportunity appealing to both our traditional sale leaseback investors and our industrial outdoor storage investors. As a result, we ran a highly competitive process for our client. Investors were attracted to the robust corporate guarantee provided by the company, the strategic nature of the subject site to the company's broader network, and the high-quality real estate asset and location. We are pleased to bring this transaction to a successful close and we're grateful for the collaboration between our client and the buyer to deliver an excellent outcome for all."
Leave a Comment