Madison Capital Buys Four REI Co-op Distribution Centers Nationwide for $230M

SUMNER, WASH. — New York-based Madison Capital has acquired four REI Co-op distribution centers in Sumner, Wash., Bedford, Penn., Goodyear, Ariz. and Lebanon, Tenn., for $230 million in a sale-leaseback transaction, which also includes the land associated with the properties. REI Co-op will continue to maintain and operate all buildings, as well as own all equipment and machinery inside each facility. The co-op’s network of distribution centers services its more than 190 stores across the country, as well as fulfills customers’ online orders. Heartland LLC, in cooperation with BRK Real Estate Advisors, JLL and Foundry Commercial, represented Sumner-based REI.