X Team International, an international alliance of retail real estate advisors with expertise in more than 45 major markets throughout the U.S. and Canada, announced today that Dallas-Fort Worth-based partner Venture Commercial has represented Northern Tool + Equipment Inc. in a sale leaseback of their Faribault, Minnesota manufacturing facility. Clay Mote of Venture made the announcement.
Northern Tool signed a 15-year lease and will continue to use the 261,159-square-foot building with 14.56 acres of land located at 2050 Airtech Road as the company’s main manufacturing facility for its premier brand, Northstar products, for retail stores and all catalog sales. Venture Commercial’s Mote, who serves as master broker for Northern Tool, represented the seller. The buyer, Realty Income Corp., was self-represented in the sale.
“The sale-leaseback transaction is going to be quite beneficial to the growth of Northern Tool + Equipment, as they will be able to use this opportunity to reinvest in the continued expansion of new retail stores,” said Mote.
Since opening its first store in 1981, Northern Tool + Equipment has been bringing customers quality products to help tackle any job. Northern Tool offers a widespread line of products that appeal to industrial sized companies, small shops and do-it-yourselfers. Major segments that Northern Tool services include trades such as automotive, agriculture and construction, along with consumers with interests such as woodworking, hunting, fishing and home improvement.
About X Team
X Team is an international alliance of retail real estate specialists with offices located in major cities throughout the U.S., Canada and Europe. X Team partners average more than 20 years of industry experience, with expertise in major markets worldwide, specializing in tenant, property and developer/landlord representation, workout services, property dispositions and retail investments. X Team services include transaction negotiation, portfolio analysis, lease valuations, acquisitions, and asset assessment and valuation. For more information, please visit www.xteam.net.
About Venture Commercial Real Estate
Venture Commercial Real Estate is a leader in retail brokerage services throughout the Southeast and is dedicated to each client’s success. The company’s full-service real estate platform includes landlord and tenant representation, property management, land sales, disposition and investment sales. For more information, visit www.venturedfw.com.
About Northern Tool + Equipment
Based in Burnsville, Minn., Northern Tool + Equipment offers a wide selection of products from consumer goods to industrial and construction equipment to do-it-yourselfers, contractors and professional shops. For more information, please visit www.northerntool.com.