Portland, Oregon - Our Net Lease Properties gathering of data today comes from the Pacific Northwest. The reports are that Adidas America Inc. has put its North Portland headquarters up for sale. Adidas America Inc. is preparing for a sale-leaseback on this Investment Property. The Company, Adidas America wants to sell its Investment Property headquarters to raise money for operations, then lease back (sale-leaseback) the net lease property in a long-term lease. Adidas bought the Investment Property which was Beth Kaiser hospital in 1999. This Investment Property is situated at 5055 N. Greeley Avenue.
The Commercial Real Estate services firm representing the net lease property has information for Investors. Adidas America Inc. would pay $15 per square foot in rent with this sale-leaseback of the net lease property. This sale-leaseback would include 2 percent annual escalators, providing the buyer with first-year operating income of $4.8 million. The Commercial Real Estate services firm is looking for a buyer that will lease the eight-year-old Investment Property which is a 320,000 square-foot campus, back to Adidas America for 10 years.
Adidas America Inc. moved its North America headquarters into an Investment Property on an 11-acre site at the former Bess Kaiser Medical Center. This Investment Property is located in Portland's Overlook neighborhood a decade ago. Adidas America Inc. employs about 850 at the net lease site. The Investment Property includes five office buildings and an athletic facility. County Tax Records have a market value of nearly $88.8 million for this Net Lease Investment.
Some financial reasons for getting into a sale-leaseback transaction, is that it would free up funds that Adidas America Inc. can reinvest in their brand and employees. Adidas remains committed to continuing a strong local presence in Portland and help the local economy. This Investment Property offered for a sale-leaseback transaction is about 2.5 miles from the University of Portland. The University of Portland is located at 5000 North Willamette Boulevard with a zip code of 97203.
As far as Investors information on the Company Adidas, it was reported in August that its global sales climbed 11 percent in the first half of the year. North American sales rose 12 percent, or 10 percent after the currency adjustment. The company said its net profits increased also.
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