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Avison Young Arranges Sale of Single Tenant Warehouse Portfolio
Avison Young arranged the sale of a portfolio of 16 warehouse buildings on behalf of LCN Capital Partners for $38.5 million. The properties consist of 682,000 square feet of space net leased to Vintage Parts in Beaver Dam and Columbus, Wisconsin.
The seller, LCN Capital Partners, was represented by Timothy Hall, Principal, based in Avison Young’s Washington D.C., office, and James Hanson, Principal, based in Avison Young’s Chicago office. Hall and Hanson are co-heads of Avison Young’s Corporate Finance Team. David Krasnoff, Executive Director of Avison Young’s Corporate Net Lease Finance Group, based in Avison Young’s New York City office, provided investors with guidance on acquisition debt alternatives. The buyer, a publicly traded REIT, represented themselves.
“The Vintage Parts portfolio has performed remarkably well. The Avison Young team utilized their deep industry knowledge and network to broadly market the portfolio and identify an exceptional buyer,” said Jared Ciejek, Partner at LCN Capital Partners.
