BudgeText to Sell Three Buildings in Fayetteville

BudgeText Inc. has listed three buildings for sale with Coldwell Banker Commercial Real Estate of Fayetteville.

The asking price is about $15 million for the 284,000 SF of heated space located on 16.27 acres on 1936 N. Shiloh Drive in Fayetteville. About 21,000 SF of office space is included in the total SF, or 7.4 percent of the total space with the rest occupying warehouse space. Of the three buildings for sale, building one is 12 years old and 63,000 SF, building two is five years old and 108,000 SF and building three is five years old and 113,000 SF.

The company isn’t relocating or going bankrupt, it just wants to sell the building so it can lease it right back from the purchasor for an annual rent of $1.3 million or $4.73 per SF. We couldn’t help but wonder if this capital raising measure is related to the land deals described in our cover story on the Elm Springs property owned by the Anders family, which also owns BudgeText. BudgeText is No. 5 in the industry of textbook wholesaling.