BENTLEYFORBES COMPLETES SALE-LEASEBACK PURCHASE OF AMERICREDIT CORP.’S ARLINGTON, TEXAS, OPERATIONS CENTER Third Recent Acquisition of Office Property in Dallas Metroplex By BentleyForbes; Expands Market Presence to more than 1.1 Million Square Feet in Six Properties DALLAS, TX (August 18, 2005) – BentleyForbes, a national commercial real estate investment and operating company, today announced the successful completion of a sale-leaseback property acquisition from AmeriCredit Corp., comprising a single three-story, 250,000-square-foot, Class A suburban office building, said David W. Cobb, president and CEO of BentleyForbes. AmeriCredit Corp. will lease 100 percent of the building, known as the company’s Arlington Operations Center I, located at 4001 Embarcadero Drive in Arlington, Texas, through a twelve-year agreement completed as part of its property sale to BentleyForbes. In the transaction, Bentley Forbes was represented by Brad Stewart of Swearingen Co. The sale-leaseback term defines the method of the transaction, in which a company sells an owned property housing its operations to a real estate operator and in conjunction with the transaction commits to continued occupancy at the property through a simultaneous lease agreement. “BentleyForbes sees long-term potential in owning commercial real estate in the Dallas Metroplex and will continue to pursue acquisitions in the local market when appropriate,” said Cobb, who also referred to the company’s recent purchase of 722,000 square feet of Class A office buildings in the Preston Center submarket of Dallas. “The quality of this asset coupled with AmeriCredit’s long-term lease commitment at the property made this transaction uniquely attractive.” BentleyForbes is actively acquiring commercial real estate in major MSA markets across the United States, expanding its national portfolio of properties currently located in 14 states including California, New York, Texas, Florida, Colorado, Massachusetts, Maryland, Ohio, North Carolina, Georgia, Wisconsin, Maine, Indiana and Minnesota. The firm’s diversified acquisition criteria focuses on multi-tenant, single tenant and sale-leaseback transactions emphasizing trophy office, large scale retail and well located industrial/warehouse properties. AmeriCredit Corp.’s Arlington Operations Center I houses many of AmeriCredit’s support functions in a Class A suburban office environment. During the past two years, the property has earned four Office Building of the Year awards for excellence in the corporate facility category from the local and regional chapters of the Building Owners and Managers Association. The three-story office building sits on a total of 25.44 acres. It offers 1,542 parking spaces and near immediate access to Interstate Highway 20. The building features Class A finishes throughout, with an attractive exterior comprised of brick veneer, cast stone window sills and insulated glass windows with an attractive blue tint. Two lobbies in the building each feature three-story atriums with modern design staircases of slate tile steps and attractive stainless steel/cable handrails. About BentleyForbes About AmeriCredit |
