AIC Ventures Acquires the Facilities of Integra Printing, Inc. in Grand Rapids, MI
Friday, July 13, 2007
July 13, 2007 -- AIC Ventures announced today that it has completed a sale leaseback transaction with Integra Printing, Inc. Integra Printing is a leader in printing, digital communications and turnkey fulfillment programs. The transaction includes Integra’s corporate headquarters in Grand Rapids, Michigan. AIC Ventures’ real estate fund, NL Ventures VI, acquired the property and simultaneously entered into a long term absolute net lease with Integra. The asset encompasses 165,000 square feet of office and manufacturing space. Marcus and Millichap Real Estate Investment Services represented the seller, and arranged the transaction.
Peter Carlsen, President of AIC Ventures, said, “We are pleased to have completed this transaction as it enabled Integra to unlock the full value of its real estate. AIC Ventures is committed to becoming the first company people think of when looking for integrity and performance in the sale leaseback market place. We see tenant relationships as a critical component to our success, and we look forward to a mutually beneficial association with Integra.”
Gavin McDowell of Marcus and Millichap Real Estate Investment Services said, “This was a transaction where both groups benefited. Integra was looking to expand and grow in a changing industry and was looking to pull out capital tied up in its brand new state of the art facility. AIC was able to recognize Integra’s needs and performed quickly on this transaction allowing Integra to move forward without delay. Once again, AIC lived up to its impeccable reputation as a sound partner in a Sale Leaseback transaction.”