AG Finalizes Sale-Leaseback on Warehouse

Associated Grocers here said it has finalized its sale-leaseback agreement with Sabey Corp.,

SEATTLE — Associated Grocers here said it has finalized its sale-leaseback agreement with Sabey Corp., two months after an agreement in principle was reached. According to John Runyan, AG president and chief executive officer, “This is a win-win for all involved and a big step for AG toward reaching our strategic objectives.” Runyan said in February that AG would decide by mid-year whether to sell the company or continue to operate as is. Under terms of the sale-leaseback, AG sold the 55.27-acre facility, which houses its headquarters and distribution center, to the real estate development and investment company for $91 million and will be able lease back the property for up to four years.