Legacy Automotive Capital, LLC, has acquired 527 North Bennington Road in Bennington, VT in a $10 million structured corporate sale leaseback.
Legacy Automotive Capital, LLC acquired the 20,219-square-foot property that will continue to house Lundgren Subaru of Bennington through the leaseback portion of the transaction.
Karly Iacono of CBRE represented the property ownership, 527 North LLC and procured the buyer.
“As debt markets become more constrained, sale leaseback transactions are increasingly attractive tools to access maximum equity in real estate,” said Iacono. “This structured corporate sale leaseback allows Legacy Automotive to own a centrally located property with a long-term lease with attractive rent increases in place.”
Built in 2018, 527 North Bennington Road is situated in the heart of Bennington and houses one of the most profitable Subaru car dealerships and service centers in the area.