Broadstone Net Lease has acquired two properties tenanted by Sportech located in Elk River, Minnesota. Sportech is a leading manufacturer of OEM accessories for the powersports industry. The two facilities include the corporate headquarters for Sportech, as well as production and assembly operations. The corporate headquarters/production facility has a long-term lease commitment of 15 years, and the assembly facility carries a 5 year lease. Both properties were acquired via sale-leaseback transactions.
- Closing Date: March 31, 2015
- Square Footage: 142,909 combined
- Lease Type: Triple-net
- Lease Length: 15 and 5 Years
- Rent Increases: 2.00% annually
- Broker/source: Judson Welliver, CBRE
Note: The brand listed may not represent BNL’s actual tenant but a lease guarantor, tenant franchise or a D/B/A (doing business as).