Sale-leasebacks are continuing their meteoric rise in the M&A world, and private equity firms that aren't yet taking advantage of these arrangements "could be leaving money on the table," according to a new survey by the Association for Corporate Growth. 

J.C. Penney is perhaps one of the most prominent examples of a high-profile company using sale-leasebacks to unlock liquidity during tough times. Other examples include Bed Bath & Beyond and Big Lots, which completed successful sale-leasebacks (each with Chicago-based Oak Street) this year, the ACG notes.  

Last month, Bed Bath & Beyond sold 2.1 million square feet of space to Oak Street for $250 million in a deal that included retail stores, the company's corporate headquarters and a distribution facility; the company is leasing the properties back pursuant to a long-term agreement. Oak Street's $725 million sale-leaseback deal with Big Lots gave the firm control of four Big Lots distribution centers while allowing Big Lots to pay down debt.