NAI Hiffman completed a sale-leaseback transaction on behalf of Young Innovations, Inc., a global manufacturer and distributor of consumable dental supplies and equipment. The assets, which sold for $17.1 million, include the company’s 95,000-square-foot headquarters building at 2260 Wendt St. in Algonquin, Illinois, as well as the firm’s three manufacturing and distribution facilities totaling 117,400 square feet in Earth City, Missouri, a suburb of St. Louis.
Young Innovations will maintain operations at all properties under a 20-year lease with the buyer, New York-based New Mountain Net Lease.
The sale, brokered by Pat Sullivan, executive vice president of NAI Hiffman’s Capital Markets Group, and Ryan Chambers, vice president of NAI Hiffman’s Capital Markets Group, marks the sixth single-tenant sale-leaseback transaction executed by the firm’s Capital Markets Group during the past 24 months. Together, these deals comprised 16 assets across seven states that, collectively, were valued at nearly $120 million.
