Industrial Property

Providence County, RI

Clubhouse Capital structured a $1.65 million sale/leaseback for this 40,000 sf industrial property. The former owner, who operates one division of his company from the premises, desired to shed some debt and acquire a competitor. The buyer, an experienced real estate investor, was seeking an exchange property after his sale of a small apartment building. The sale price was 10% less than FMV, which facilitated a long-term NNN lease priced about 10% below market. (Summer 2019).