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
Based in Los Angeles, BentleyForbes is one of the nation's
fastest-growing commercial real estate investment companies.
The Company is focused on acquiring and managing Class A or
well-positioned office, retail and industrial/warehouse real
estate assets in markets throughout the United States. Currently,
the Company's portfolio is valued in excess of $1 billion,
including properties ranging from office buildings, shopping
centers and industrial properties, to light manufacturing
facilities and warehouses encompassing approximately 7.5 million
square feet located in 14 states including California, New
York, Texas, Florida, Colorado, Massachusetts, Maryland, Ohio,
North Carolina, Georgia, Wisconsin, Maine, Indiana and Minnesota.
Internationally recognized for its leadership in the acquisition
and management of single tenant, sale-leaseback and net lease
properties, the Company has expanded its interest to also
include investments in multi-tenanted properties. For further
information regarding BentleyForbes, its holdings and investment
strategies, please log on to the Company’s website at
www.bentleyforbes.com.
About AmeriCredit
AmeriCredit Corp. is a leading independent auto finance company.
Using its branch network and strategic alliances with auto
groups and banks, the Company purchases retail installment
contracts entered into by auto dealers with consumers who
are typically unable to obtain financing from traditional
sources. AmeriCredit has approximately one million customers
and $11 billion in managed auto receivables. The Company was
founded in 1992 and is headquartered in Fort Worth, Texas.
For more information, visit www.americredit.com.
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