Tuesday, November 20, 2007

The Great Escape Completes $89.5 Million Sale Leaseback of Midwest Store Portfolio

McHenry County Business Journal - November 2, 2007

The Great Escape, the largest home leisure retailer in the Midwest with 21 stores, has sold all of its stores. The Great Escape will continue selling its assortment of home recreational products for the foreseeable future, as the retailer has agreed to a 20 year leaseback of the properties.

This month, South Holland-based Great Escape sold all its store sites, including one at 2421 S. Randall Road in Algonquin, to Scottsdale, Ariz.-based Spirit Finance Corp. for a total of $89.5 million. Records show the Algonquin store sold for $9.8 million.

Representatives of The Great Escape and Spirit Finance Corp. declined to discuss the transaction. Sphere: Related Content

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