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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.

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