Kraft Foods Sells Northfield HQ, Will Lease Back
The company will lease back its office space for a minimum of 10 years.
Kraft Foods said Thursday that it has sold its Northfield headquarters to real estate investment trust W.P. Carey, but will lease the space back for at least 10 years, according to an article in TribLocal.
A spokesman for the company told TribLocal that the sale allows it to invest money in the company while staying in Northfield.
In early 2012, the company cut 1,600 positions and closed its Glenview Corporate Office as part of its restructuring. There were even discussions with Chicago Mayor Rahm Emanuel about moving some of its business headquarters’ to the city, but the company ultimately decided to stay in Northfield. It's campus is at the corner of Willow and Waukegan roads.
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chris
8:56 am on Saturday, January 19, 2013
No wonder they're going under.
Sell a prime spot at the bottom of the real estate value market then lease it back now that rents are higher?
How can I get in touch with the management? I have this bridge in Brooklyn I wanna unload.
TomC
8:04 pm on Saturday, January 19, 2013
Too big to fail!