Proskauer advised client Bed, Bath & Beyond Inc. on a sale-leaseback transaction with an affiliate of Oak Street Real Estate Capital, generating over $250 million in net proceeds.
The properties sold represent approximately 2.1 million square feet of commercial space, including retail stores, a distribution facility and office space. Bed Bath & Beyond will continue to occupy these properties pursuant to long-term leases.
Bed Bath & Beyond Inc. is an omnichannel retailer that is the trusted expert for the home and heart-felt life events. The company sells a wide assortment of domestics merchandise and home furnishings.
The Proskauer team was led by partners Christopher Pennington (Real Estate; Picture) and Michael Ellis (Corporate) and included partner Stuart Rosow (Tax), senior counsel Aliza Cinamon (Environmental) and associate Steven Koppell (Real Estate).
Involved fees earner: Aliza Cinamon – Proskauer Rose LLP; Michael Ellis – Proskauer Rose LLP; Steven Koppell – Proskauer Rose LLP; Christopher Pennington – Proskauer Rose LLP; Stuart Rosow – Proskauer Rose LLP;
Law Firms: Proskauer Rose LLP;
Clients: Bed, Bath & Beyond;