The transaction represents Envoy’s entry into the prime O’Hare industrial market
and ongoing push to offer both traditional and “reversible” sale/leaseback options
CHICAGO, FEB. 11, 2019 — Envoy Net Lease Partners, a real estate finance company specializing in single-tenant commercial properties, today announced the acquisition of a 38,000-square-foot industrial building from Escorza Tile, Inc., the largest minority owned flooring contractor in greater Chicago.
The property, located in Elk Grove Village industrial park — the largest industrial park in the U.S. — will be leased to Escorza on a triple net basis for 10 years with annual rent increases. Envoy’s sale/leaseback program offers owners of industrial, medical, office, retail and special-purpose properties both traditional and “reversible” sale/leaseback formats that were previously unavailable — including short-term purchase options, partial leasebacks and shortterm transitional lease terms.
“We’re happy to have collaborated with Matt Bear of Bear Real Estate Advisors to bring this deal to fruition on behalf of Escorza, which has been serving the Chicago metropolitan market for nearly two decades,” said Envoy President Ralph N. Cram, who added: “Sale/leasebacks are the solution to companies seeking to monetize their real estate while keeping control of their real estate long-term. We believe more and more companies will be looking to use sale/leaseback transitions over the next few years as other lenders pull back.”
The seller was represented by Chad Arthur of Arthur Brokerage. Inland Bank & Trust, through SVP Chris Metcalf, provided the acquisition financing for this transaction.
About Envoy Net Lease Partners
Based in greater Chicago, Envoy Net Lease Partners, is a leading provider of short-term financing for single-tenant net lease properties since 2011. Envoy provides up to 100 percent financing in the form of high-leverage construction and bridge loans, ground lease loans, sale/ leasebacks and JV equity financing, for transactions that are often too small or complex to attract
the interest of institutional investors and lenders.
Envoy seeks qualified projects anywhere in the U.S. To learn more, visit envoynnn.com.