The new owner simultaneously leased the property back to MitsuwaCorp. for 15 years on a triple-net bond lease, the latest in anumber of sale-leaseback deals Bentley Forbes has done. The companycalls its sale-leaseback package the Flexi-Bond Lease Program."Sometimes clients don't realize they're sitting on their biggestasset," explains company president Frederick Wehba III. "They don'tknow how easy it can be to convert that passive asset intocapital."

Bentley Forbes is a national commercial real estate investmentfirm that specializes in acquiring and owning single-tenant,income-producing properties. While the company is shopping foreverything from office buildings to industrial properties, it hasbeen focusing on retail properties to a greater extent. This latesttransaction brings the company's portfolio to over $675 million,with $200 million of that coming since the first of this year.

Sale-leaseback partner Mitsuwa recently changed its name fromYaohan USA Corp. In the last three years, Bentley Forbes has done atotal of four sale-leasebacks involving Yaohan. Besides Edgewater,NJ, the others are located in Arlington, IL and Costa Mesa andTorrance, CA.