CrownPoint Partners, a real estate brokerage, has closed a $9.2 million sale-leaseback of a five-property dental practice portfolio across Michigan.
The portfolio totals 35,212-square-feet and is located in Lansing, Charlotte, Adrian, St. Joseph and Jackson, Mich., according to an Oct. 7 news release from CrownPoint Partners.
The transaction was structured with new 15-year absolute net leases that include 2% annual rent increases.
CrownPoint Partners represented both the buyer and seller in the transaction, the release said.
