Search
 

Ninpro Financial Completes Sale-Leaseback

PORTLAND-The commercial insurance company sells its 10,650-sf one-off building to a local family trust for $1.1 million and, as part of the deal, signs a five-year lease for the approximately 7,000 sf it has occupied since it purchased the building 18 months ago.

By Brian K. Miller | Updated on April 03, 2002

PORTLAND-Ninpro Financial has completed a sale-leaseback transaction for a one-off, 10,650-sf building on Beaverton-Hillsdale Highway. Ninpro purchased the building 18 months ago for about $975,000 and occupied the space it is now leasing, but was never able to find a tenant for the remaining space.

The building, located at 8565 SW Beaverton Hillsdale Hwy., sold for $1.05 million to a family trust run by local accountant Jerry Snider and operating under the name Heather Park. There was no lease rate or deal value given for the leaseback, though a broker in the transaction says Ninpro received “an arm’s-length rate” for its 7,000-sf, five-year commitment.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.