Overview

• December 2004
• 1147 Akron Road, Wooster, OH
• 1,200,000 square foot industrial building
• $15,250,000 sale price ($12.71/sq ft)

Requirement

Sell the Rubbermaid world headquarters of 1,200,000 square feet and Newell-Rubbermaid would lease it back.

Challenge

Newell Co. acquired Rubbermaid for $6 billion. Rubbermaid owned their headquarters, however Newell did not want to be an owner of real estate.

“Terry did an excellent job in facilitating the transaction in such a short time period.”

– Art Garcia, Director of Real Estate, Newell Rubbermaid

Solution

Terry Coyne had to put the building on the market and find a buyer within 30 days.

Result

Coyne found a buyer and negotiated a five year sale lease back with the new owner.