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....
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.