Sale-leaseback transactions can be an effective tool for maximizing a company's capital. A sale-leaseback transaction occurs when the buyer purchases a property and leases the property back to the seller at agreed-upon lease terms. Sale-leaseback transactions serve as an effective way for businesses to monetize their real estate assets, allowing them to redeploy capital back into various aspects of their business.
By partnering with leading developers, VEREIT's build-to-suit program provides capital for fee development and forward take-out commitments. Build-to-suit opportunities are available for creditworthy tenants in need of a new, custom retail, office or industrial facility with a long-term lease. Additionally, we are positioned to roll out tenant concepts across the country with a retailer's preferred developer.
Build-to-Suit Project Example
Tenant: MedAssets, Inc.
Building Type: Class-A, Four-Story Office Building
Location: Dallas, Texas
Partner: Trammell Crow Company
Square Feet: 225,000
Purchase Price: $46.2 Million
Closed: February 2013
VEREIT entered into a development agreement with Trammell Crow Company to develop the four-story, Class-A office building in the Legacy Business Park in Plano, TX, leased and 100% occupied by MedAssets, Inc. The property was completed early in 2013 and serves as a regional operations center for MedAssets.
VEREIT's fee-based development program seeks opportunities to partner with businesses in vital markets across the country. The project is managed from start-to-finish by our fee-based development partner or your preferred developer.
VEREIT's forward take-out commitment program provides a capital commitment to fund an acquisition once pre-established contingencies have been met by the developer and the project. In this process, VEREIT will close escrow taking ownership of the property with a long-term tenant in place.
Partnership Program Property Types
VEREIT offers a full suite of partnership opportunities for tenants and developers seeking efficient ways to reach their real estate objectives. VEREIT partnership programs are available nationwide with the following property types:
Single-Tenant Office and Corporate Facilities