NAI Hiffman, the largest independent real estate services firm in the Midwest, today announced it has completed a sale-leaseback transaction on behalf of Young Innovations, Inc., a global manufacturer and distributor of consumable dental supplies and equipment. The assets, which sold for $17.1 million, include the company’s 95,000-square-foot headquarters building at 2260 Wendt St. in Algonquin, Illinois, as well as the firm’s three manufacturing and distribution facilities totaling 117,400 square feet in Earth City, Missouri, a suburb of St. Louis.
Young Innovations will maintain operations at all properties under a 20-year lease with the buyer, New York-based New Mountain Net Lease.
“Through sale-leaseback transactions, companies like Young Innovations are able to capitalize on strong pricing without any disruption to their business, in many cases reinvesting proceeds to support future growth,” said Pat Sullivan, executive vice president of NAI Hiffman’s Capital Markets Group. “These transactions also provide the steady, predictable returns that many investors seek.”
The sale, brokered by Sullivan and Ryan Chambers, vice president of NAI Hiffman’s Capital Markets Group, marks the sixth single-tenant sale-leaseback transaction executed by the firm’s Capital Markets Group over the past 24 months. Together, they comprised 16 assets across seven states that, collectively, were valued at nearly $120 million.
About NAI Hiffman:
NAI Hiffman is the largest independent real estate services firm in the Midwest, providing leasing, management, tenant representation, capital markets, project management and marketing services for institutional and private owners and occupiers of commercial real estate. It currently leases and manages an 89+ million square foot portfolio of more than 700 commercial properties throughout the region, with a primary focus on metropolitan Chicago. With more than 200 employees, NAI Hiffman is the Chicago-area representative for NAI Global, the world’s largest managed network of real estate service providers, with more than 6,700 local market professionals managing more than 380 million square feet of property. NAI Global has more than 375 offices strategically located throughout North America, Latin America, Europe and Asia Pacific. For more information, please visit www.hiffman.com.
About Young Innovations, Inc.:
Young Innovations is a leading developer and manufacturer of premium branded consumable professional dental products used by dentists, hygienists, dental assistants and patients. Their portfolio of brands includes products that hold leadership positions in the preventive, restorative, infection control and orthodontic segments.
NAI Hiffman’s Capital Markets Group represented Young Innovations in the $17.1 million sale-leaseback of 200,000+ square feet of property, including Young Innovations’ headquarters in Algonquin, Ill.