July 2020

Recently Sold – Bayer-Monsanto Seed Production Facility, Marana, AZ

Aerial view of a large seed production facility in a desert landscape, with a close-up of the interior showing rows of lush green plants.

Thomas Company is pleased to announce the sale of a Bayer/Monsanto seed production and innovation facility in Marana, Arizona, totaling +/- 436,000 square feet. The list price was $111 million. The asset was structured as a zero-cash-flow investment, with long-term fixed rate CTL financing. The property was also subject to a 99-year prepaid ground lease, allowing the investor to depreciate their entire cost basis. The purchaser was attracted to the asset due to the financial strength of the tenant/guarantor, the in-place assumable mortgage, and the passive losses generated by the investment.