Monday, January 4, 2016

HFF closes sale leaseback of 3-property industrial portfolio in Maine and Wisconsin

Nick Foster

SAN FRANCISCO, CA, Jan. 4, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale leaseback of a three-property, four-building, mission-critical, industrial portfolio 100 percent occupied by PrideSports and totaling 241,890 square feet. The properties are located in Burnham and Guilford, Maine, and Florence, Wisconsin.

HFF marketed the portfolio on behalf of the seller, Centre Partners Management LLC, which is acquiring PrideSports as the firm expands their portfolio company, Medalist Corp.  The buyer entered into 20-year, absolute triple-net leases with the seller. 

PrideSports is a leading designer and manufacturer of sports equipment, accessories and other complementary products.

 The buildings included in the sale are all currently occupied by PrideSports and are located at 10 North Main Street in Burnham, Maine; 169 Water Street in Guilford, Maine; and 5794 In Com Drive in Florence, Wisconsin.

 The 184,890-square-foot Burnham property consists of one industrial warehouse and manufacturing building with up to 40’ ceiling heights and 20,000 square feet of mezzanine office space. 

Scott Pertel

The Guilford industrial warehouse is an 18,000-square-foot building with 1,300 square feet of mezzanine space and 16’ ceiling heights.  The two-building Florence property has a storage facility and a light manufacturing facility with 20’ ceiling heights and totals 39,000 square feet including 5,000 square feet of office space. 

The HFF investment sales team representing the seller was led by managing director Scott Pertel and associate director Nick Foster.

“PrideSports has a commanding market share position in the golf accessory industry,” Pertel said.  “These properties are critical to the design, production and distribution of their products. 

“This sale leaseback was accretive to both Centre Partners and the buyer, a true win for both parties.  Demand for mission-critical sale leaseback product remains robust, and we perceive that demand to remain consistent throughout 2016.”

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

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