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Tupperware Sells, Retains Leaseback of Land Surrounding Orlando Headquarters
Tupperware Brands has closed the sale of its remaining undeveloped land on which its Kissimmee, FL, headquarters is located to O’Connor Capital Partners. This transaction generated gross sale proceeds of $37 million.
The sale marks the transfer of all Tupperware’s remaining land in Central Florida. The first transaction for 108 acres of land was completed in October 2020, and this final transaction includes 125 acres of developable land and 490 acres of common areas and wetlands. In total, Tupperware Brands has transferred approximately 740 acres in connection with its Orlando land sale.
The company will remain in its headquarters building and retain a 11-year sale-leaseback arrangement with O’Connor that was executed in November 2020.
Tupperware Brands has been headquartered in the Orlando area since 1953, when founder and inventor Earl Tupper purchased 1,300 acres of undeveloped land in what was then a small farm community.
- ◦Lease
- ◦Sale/Acquisition
- ◦Development
