Nestle Signs On To 5 More Years At Pa. Distribution Center

Law360, New York (March 28, 2012, 10:41 PM EDT) -- New York-based real estate investment trust CapLease Inc. on Tuesday renewed Nestle Holdings Inc.'s lease on a 1 million-square-foot Pennsylvania distribution center, a property for which the company will pay $9.45 million in rent this year.

The five-year renewal term begins Jan. 1, 2013, at a rate of $4.40 per square foot, CapLease said in a statement. That rate will increase by 3 percent annually over the life of the lease, the REIT said.

Representatives for the parties could not immediately be reached for comment Wednesday....
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