CHICAGO, IL (July 25, 2011) – Grubb & Ellis Company (NYSE: GBE) today announced that its Chicago-based Sale Leaseback/Net Lease Properties Group represented SIGMA International Group, Inc., a portfolio company of private equity firm, Frontenac Company, in a sale leaseback transaction of three buildings. The buildings, located in suburban Chicago and Houston, were purchased by an undisclosed buyer.
Senior Vice Presidents Jonathan M. Wolfe (top right photo) and Jordan A. Shtulman (middle left photo), who co-head the group, facilitated the transaction.
The sale leaseback includes two industrial buildings totaling 73,025 square feet located at 21699 Torrence Ave. and 2701 Kalvelage Drive in Sauk Village, Ill., and a 100,000-square-foot industrial building located at 5000 Askins Lane in Houston. SIGMA will continue to occupy the buildings under a long term lease.
"The sale leaseback market has strengthened materially for companies like SIGMA with its strong credit profile and 25 years of consistent results in its core markets.
"Given the superior execution on this transaction by Grubb & Ellis' Sale Leaseback/Net Lease Properties Group, the deal proved very attractive to SIGMA and I am confident will be a good result for the sale-leaseback buyer. We are very pleased with the result," said Walter Florence (lower right photo), managing director of Frontenac Company.
Headquartered in Cream Ridge, N.J., SIGMA International Group, Inc. is a leading, nationally recognized importer and master distributor of ductile iron and cast iron fittings, restraints, municipal castings and other related products used as a part of the delivery infrastructure in the water and wastewater industry
Founded in 1971, Frontenac Company is a leading, Chicago-based private equity investment firm having invested in over 200 family-owned/owner operator companies.
For more information about this transaction or for sale leaseback or net lease inquiries, contact Wolfe at 312.224.3985 or Shtulman at 312.224.3103.
Contact: Janice McDill, Phone: 312.698.6707,
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