Prairie Dog Properties

Prairie Dog Properties owns an industrial property in suburban Chicago that is leased to a niche manufacturer of aftermarket products for the motorcycle and automotive sectors. The property encompasses approximately 50,000 square feet and accommodates the tenant’s engineering, manufacturing, operations, and product distribution needs. As part of an overall engagement to address ownership’s estate planning goals, Promontory was engaged to advise on alternatives to building ownership, including a possible sale-leaseback involving the industrial property.

Promontory first contacted several real estate appraisal firms to obtain a market assessment for the client’s industrial property. After securing a current fair market appraisal, Promontory began marketing the opportunity to real estate investment firms with significant property sale-leaseback expertise. After obtaining interest from multiple parties, Promontory recommended moving forward with a proposal submitted by Venture One Real Estate. The sale of the property allowed building ownership to address its estate planning goals, while providing a long-term lease arrangement for the tenant.