Wednesday, January 04, 2006

Crate & Barrel Completes $40 Million Sale Leaseback of Headquarters

Chicago Tribune - January 4, 2006

New York investor Lloyd Goldman has completed a $40 million sale/leaseback deal for the Northbrook headquarters of Crate & Barrel Inc., according to property records filed last month. Goldman is best known as the lead financial partner in plans to rebuild the World Trade Center site.

The housewares retailer had been seeking a long-term agreement for the 159,500-square-foot building at 1250 Techny Rd., with an initial annual rent of $2.4 million, not including taxes and operating expenses. The transaction allows Crate to free up capital, said a spokeswoman, who declined to comment on the financial terms but said the company signed a 20-year lease.

Chicago-based U.S. Equities Realty LLC and New York-based Sonnenblick-Goldman Co. represented Crate. Sphere: Related Content

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