Rochester,NY 8/22/2009 7:51:34 PM
Appliance Recycling Centers of America.,ARCI-Signed Sales/Leaseback Agreement For Minneapolis Headquarters Building
Appliance Recycling Centers of America
11 Aug 2009,Appliance Recycling Centers of America, Inc. declared that it has signed an agreement to sell and lease back its Minneapolis corporate office building. The sale of the building is contingent on the purchaser obtaining necessary financing. Both the companies expect the closing of the sale on or before October 12, 2009. As part of the sale, the Company will lease back the building for a period of five years. The sale of the building will provide approximately $2 million in cash to the Company after repayment of the mortgage.
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