Bob Evans Farms Signs Sale-Leaseback Agreements for 145 Properties

February 26, 2016

Bob Evans Farms, Inc. announced it entered into purchase and sale agreements with National Retail Properties and Mesirow Realty Sale-Leaseback, Inc. The terms of the sale-leaseback agreements included the sale of 119 Bob Evans Restaurant properties to National Retail Properties for $163.4 million, and the sale of 26 Bob Evans Restaurant properties to Mesirow for a purchase price of $36.6 million.

As part of the transactions, Bob Evans Restaurants agreed to enter into absolute net master leases with National Retail Properties and with Mesirow in which Bob Evans Restaurants will lease the locations for an initial term of 20 years,…