Case studies / Closed deal
Northgate Parcel: 120,000 sf sale-leaseback
A regional carrier sold its distribution building to an investor and leased it back, funding a second terminal.
Client
Northgate Parcel Co.
Service
Investment sales
Size
120,000 sf
Year
2025
Result
$14.6M raised for expansion
Northgate Parcel owned its building outright and needed capital for a second terminal. We marketed the asset to 40 institutional and private buyers, and received seven offers within three weeks.
The winning buyer closed at a 6.4% cap rate on a 12-year leaseback with annual escalations.
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