Back

Featured Recent Transaction:

Thorntons

Thorntons

Lessee: Thorntons Inc., a private unrated company
Date: December 2016
Location: Louisville, Kentucky
Square Footage: 88,698 SF
Land Size: 20.5 acres
Lease Term: 25 years

In a sale-leaseback transaction directly with a family-owned, private unrated company, CRIC2 Funds acquired Thorntons’ built-to-suit office headquarters building months before completion. Built to house all of the company’s executive leadership, administration and store support functions, the new state-of-the-art Store Support Center and Headquarters, with expansion potential to approximately 300,000 square feet, was designed to accommodate Thorntons’ long-term growth in an energy-efficient, Class-A office environment while promoting company culture and values. In order to match Thorntons’ commitment to the property and location, CRIC2 Funds inked a 25-year triple net lease with special attention paid to expansion provisions to ensure that CRIC2 Funds would be there to support the company’s growth over the long-term.