Founders Investment Banking, LLC is pleased to announce that the sale leaseback of Handoff Wireless’ corporate headquarters and distribution facility has been completed. The new 50,000 square foot office/distribution facility, located in the Shelby West Corporate Park in Alabaster, AL, was purchased for approximately $2.1 million dollars by the Foundation Sale Leaseback Fund I.
As a rapidly growing firm, Handoff Wireless was quickly becoming constrained by the size and scope of its current headquarters and distribution facility. With numerous market opportunities evident to the Company, Handoff was looking for a solution that met their real estate needs while not tying up their available growth capital. After working with management to identify the Shelby West Corporate Park property as a facility that would provide the company with room for expansion, Founders Investment Banking advised the Foundation Sale Leaseback Fund I on the purchase and lease of the property to Handoff. “We needed a facility that would allow us plenty of room to grow,” said Handoff CEO Rayford Higginbotham. “The new facility provides us with the necessary capacity to meet our volume and production needs, which should further accelerate our revenue potential.”