Business Services Industry

More firms selling off, leasing back properties.

Crain's Cleveland Business, February, 2000 by BULLARD, STAN

A rising number of companies in Greater Cleveland are cashing out on real estate properties, yet retaining them for their operations, by selling and leasing back portions of their holdings. Sale-leasebacks are a real estate variation of eating your cake and having it, too. Companies sell their properties to investors, then lease them back to remain in the same property with no disruption in business.

The process yields cash for operations or for other corporate purposes. Sale-leasebacks have been around for decades and began to increase in volume nationally in the last three years. But only now are Northeast Ohio real estate brokers saying sale-leasebacks will surface with a vengeance in coming months -- if pending transactions go through. "Without...

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