Franklin Covey Seeks Sale Leaseback of HQ

Real Estate Alert reports that Franklin Covey, an efficiency-training company co-headed by author Stephen Covey, is shopping the 312,000-square-foot property, known as Corporate Campus in Salt Lake City, Utah. The company is asking $33.8 million for its five-building headquarters complex, which it wants to continue occupying under a sale leaseback arrangement. At the asking price of $109/sf, the buyer's initial annual yield would be 9%. NAI Investment Property has the listing.
Franklin Covey currently uses all five buildings. It would pay the buyer triple-net rents ranging from $9/sf to $12/sf. The buildings, which range in size from 25,000 sf to 159,000 sf, were built from 1984 to 1995. Sphere: Related Content