Search
 

CRIC Capital Secures $18M Sale/Leaseback

BOSTON-CRIC Capital, a locally based joint venture between Corporate Realty Investment Co. and Prudential Real Estate Investors, enters into an $18 million sale-leaseback transaction with GasMart USA, for five properties.

By Naomi Grossman | Updated on October 03, 2004

BOSTON-CRIC Capital LLC entered into an $18 million sale-leaseback transaction with Fuel Service Mart USA Inc., dba GasMart USA, a developer and operator of convenience stores. As part of the deal, CRIC acquired five convenience store/gas station properties in the Chicago market area. The combined size of the five properties is 15,842 sf. GasMart will lease back the retail properties under new 20-year, triple-net leases.

The deal is the latest in CRIC’s plan to acquire more than $400 million of single-tenant properties across the country and is the third portfolio acquisition for the companyin the past two months.

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.