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News release

ATLANTA, GA

Theragenics Corporation Enters Leaseback Agreement with STORE Capital

Property includes office, manufacturing facilities, land parcels in Georgia and Massachusetts


ATLANTA, July 11, 2014 – JLL today announced that privately held medical device manufacturer Theragenics Corporation—headquartered in Buford, Georgia—has entered a leaseback agreement with STORE Capital in a transaction valued at $40 million. Brokered by JLL, the acquisition includes a portfolio of real estate in Buford, Georgia and North Attleboro, Massachusetts comprised of four institutional quality buildings totalling 227,522 square feet on 38.20 acres of land. The properties are 100 percent absolute NNN leased to Theragenics for a 15-year lease term on the Buford campus and the North Attleboro asset. The lease also contains four successive five-year options for Theragenics.

“Firms with significant commercial real estate assets like Theragenics are increasingly using sale leasebacks as a strategy to free up cash for re-investing in their businesses. Sales leasebacks have become a preferred corporate treasury tool, along with debt and equity financing. We continue to see strong investor and institutional demand for such transactions, which have consistently delivered stable returns, even in a volatile economy,” explained Shan Gastineau, Managing Director, Corporate Finance and Net Lease, JLL Atlanta.

Founded in 1981, Theragenics’ surgical products business manufactures and sells wound closure, vascular access and specialty needle products. Its brachytherapy business manufactures, custom loads, markets and distributes “seeds” used primarily in the minimally invasive treatment of localized prostate cancer. The company is committed to its Buford and North Attleboro facilities where it has invested significant capital in equipment and facility improvement. 

Commenting on the transaction, Frank J. Tarallo, President and Chief Executive Officer of Theragenics, stated “A leaseback was a very attractive alternative as a part of our overall financing. This transaction provides us with additional flexibility and an opportunity to enhance our growth.  JLL provided our company with exceptional service throughout the process”. 

For its part, STORE Capital is one of the largest and fastest-growing net-lease REITs in the United State and has supplied more than $11 billion in real estate mortgage and lease solutions.

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4 billion, JLL has more than 200 corporate offices and operates in 75 countries worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3 billion square feet and completed $99 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $48.0 billion of real estate assets under management. For further information, visit www.jll.com.​