CBRE arranges $ 30.1M sale-leaseback of grocery portfolio in Arkansas, Missouri
SPRING, ARCHE. – CBRE accomplished a $ 30.1 million sale and leaseback of 13 self-contained grocery shops leased to Harps Meals Shops Inc. totaling 459,525 sq. toes in Arkansas and Missouri. Harps offered the portfolio to Important Properties Realty Belief Inc., based mostly in New Jersey. Will Lightfoot, Jason Little, David Erstine and Hunter Groce of CBRE represented the vendor within the transaction. Since 2015, CBRE has assisted Harps in sale and leaseback transactions totaling $ 110 million.
All 13 properties have been offered topic to new long-term web leases with Harps and can proceed to function below the manufacturers operated by Harps, together with Harps Meals Shops and 10Box. The sale is not going to have an effect on the operations of the shop in any manner.
Harp’s Meals Shops Inc., based mostly in Springdale, is a series of 113 supermarkets positioned throughout Arkansas, Oklahoma, Missouri and Kansas. In 2001, the corporate proceeded with a leveraged buyout with the Worker Inventory Possession Plan (ESOP) by buying excellent shares from the household and administration. Harps is the biggest employee-owned firm based mostly in Arkansas and the twentieth largest in the USA.