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SEATTLE - Regional grocery wholesaler Associated Grocers, Inc. (AG) and Sabey Corp. last week closed their sale leaseback agreement, made in principle in February of this year, for AG's 55.27-acre Seattle headquarters and distribution facility.
Terms of the sale leaseback include a $91 million sale price, and up to a four-year leaseback of the property.
John Runyan, AG's president and c.e.o., called the consummation of the deal "a win-win" and "a big step for AG toward reaching our strategic objectives."
Sabey Corporation is a privately held real estate development, construction services, and investment company with over $600 million of assets. The company has built 27 million square feet of commercial, industrial and residential space; manages four million square feet of its own commercial and technology space; and has invested in companies valued at more than $500 million.