Private real estate investment trust Broadstone Net Lease has announced the acquisition of 19 properties tenanted by Raben Tire Co. via a sale leaseback transaction. Headquartered in Evansville, Indiana, Raben operates 28 stores, three retreading facilities, and two wholesale distribution centers across six Midwestern states. The properties, which are located in Arkansas, Illinois, Indiana, Kentucky and Missouri, total 450,711 sqf, and are tenanted under one master lease for an initial term of 17 years. Andy Sandquist of CBRE represented Raben Tire Co. during the transaction while Tones Vaisey PLLC served as BNL’s legal counsel. “We are very pleased to welcome Raben Tire as a new tenant, given the company’s strong track record and sustained profitability,” said Amy Tait, Chairman and CEO of Broadstone Real Estate.
