Mikronite Technologies acquired Crane Cams, an aftermarket automotive company headquartered in Daytona Beach, FL.  Senior management made the determination that a sale-leaseback would prove beneficial for Crane’s equipment modernization initiative and provide additional capital for growth.  This required a national marketing effort that would maximize price while negotiating a favorable lease on behalf of our client.  The property was a warehouse and manufacturing facility in a small market outside of Orlando with limited institutional grade industrial properties. 

David Murphy was retained by Crane Cams to execute a sale-leaseback transaction. A national net lease buyer based in Chicago was selected from among a wide range of potential buyers from across the country. Favorable sale and lease terms were negotiated on behalf of our client, and the process was completed in less than six months, exceeding our client’s expectation.