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A.T. Cross Completes $16M HQ Sales-Leaseback

LINCOLN, RI-A.T. Cross Co. wraps up a sale-leaseback of its corporate headquarters here in a deal that will keep it in the same building for the next 10 years.

By Beverly Ford | Updated on March 05, 2007

LINCOLN, RI-A.T. Cross Co. has completed the $15.7-million sales-leaseback of its global headquarters and manufacturing facility. The agreement allows the designer and marketer of branded personal and business products to remain in 154,000 sf at its One Albion Rd. building until 2017.

Albion Crossing LLC, a joint venture between institutional developer Gray’s Point Investments LLC and commercial real estate development fund Perseus Realty Partners, of Washington, DC, were the buyers in the deal. The new owners plan to convert the building’s remaining space into class A offices. Terms of the sales-leaseback were not disclosed.

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