Moorpark industrial building sold in lease-to-own deal
A family trust has acquired a 32,233-square-foot industrial building that its family business, Pindler & Pindler Inc., had been occupying for the past two and a half years with an option to purchase. “These types of lease-to-own arrangements have become a lot more popular as the leasing market has slowed,” said Mike Tingus, president of Lee & Associates’ Los Angeles North/Ventura office. “Landlords recognize that they have to be more creative to gain a competitive edge.”
Tingus represented the seller, York Moorpark Industrial LLC, with Lee associate Scott Linklater.
Sellers have not been anxious to put their properties on the market as prices have fallen. Lease-to-own options can help owners stabilize pricing while offering an attractive incentive to buyers.
“We’re definitely seeing more of these incentives,” Tingus said.