Unlocked Over $100 Million in Proceeds and Strong Terms...
"Ken helped us unlock over $100 million in proceeds while securing a long-term lease structure that preserved control and flexibility for decades to come."
Publicly Traded Fortune 500 Company
Sale-Leaseback 82,000 SF
The Problem
A publicly traded Fortune 500 automotive rental company with a B credit rating owned two strategically important sites near major international airports in the Northeastern United States. Together, the properties included approximately 82,000 square feet of built space and nearly 20 acres of outdoor storage supporting repair, maintenance, and vehicle parking.
As part of a broader strategic plan, the company needed to unlock the significant capital value embedded in these assets while maintaining long-term operational control and ensuring the transaction aligned with ongoing business needs.
The Action
Ken Ashley and team structured and executed a sale-leaseback strategy that preserved the client’s operational requirements while maximizing financial outcomes. The team ran a competitive marketing and bidding process designed to attract qualified investors, drive pricing, and secure favorable lease terms, targeting a cost of funds lower than the client’s cost of debt.
A robust campaign was executed, resulting in more than 100 investors signing non-disclosure agreements and reviewing the Offering Memorandum. Through a highly competitive process, a public REIT net lease investor was selected to acquire and lease back both properties.
The Outcome
The transaction closed within four months, generating over $100 million in sale proceeds at nearly a 7% cap rate. The deal was structured with a 20-year operating lease (ASC 842), 3.0% annual rent escalations, and renewal options providing up to 40 years of long-term control.
This structure enabled the client to unlock capital at a cost approximately 200+ basis points lower than its cost of debt, creating liquidity for broader corporate objectives while maintaining long-term operational continuity.
What They Said
"We owned two strategically important sites totaling 82,000 square feet near major international airports, and a significant amount of capital was tied up in the properties. At the same time, maintaining long-term operational control was essential to our business.
We needed a sale-leaseback solution that would unlock liquidity without disrupting operations, and the structure had to support our long-term objectives.
Ken’s ability to understand the business behind the real estate is uncommon. He helped us unlock over $100 million in proceeds while securing a long-term lease structure that preserved control and flexibility for decades to come."
— Publicly Traded Fortune 500 Company
Step 1
Conduct a needs analysis to affirm your real estate strategy and business objectives.
Step 2
Align and empower your business with optimized office location(s), space(s), and lease(s)
Step 3
Optimized outcomes with engaged people, stronger performance, and growing profitability.
Ken's Story
The Tenant Rep Broker who Teaches Real Estate Directors and works to Advance the Industry
Ken will remind you, “The biggest risk in office real estate is not making the wrong move. It’s believing there are no better options.”
Today, with 3 decades of experience in Office Tenant Rep, Ken Ashley is the broker who aligns executives to ensure workplaces that inspire, operations that move with maximum efficiency, and environments where people do their best work.
