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FORT WORTH-RadioShack Corp. has sold its corporate headquarters in Fort Worth for an undisclosed sum to a German real estate fund and will lease back the property in an arrangement that will allow the electronics retailer to pay down its debt and finance future growth.Although terms of the deal were not disclosed, RadioShack says the sale of its Fort Worth Riverfront Campus to a fund administered by KanAm Grund Kapitalanlagegesellschaft mbH included a provision for a 20-year lease back on the property with renewal options for an additional 20 years. The company will use proceeds from the sale to repay short-term borrowing used to partially finance the repurchase of 20 million shares of company stock, which it announced in August.A portion of that money will also be used to expand the RadioShack brand, the company says. “This financial transaction allows us to recoup our investment in the campus and redistribute capital to our shareholders,” David Barnes, senior vice president and chief financial officer for RadioShack, says in a statement. “The terms of this sale provide us with the flexibility we need to expand our business for decades to come.”Officials from RadioShack could not be reached for comment by GlobeSt.com. News of the sale came on the same day that RadioShack announced the resignation of board of directors member Gary Kusin, president and chief executive of FedEx Kinko’s. Kusin resigned for personal reasons, according to the company.RadioShack moved its headquarters from the Tandy Center in Downtown Fort Worth to the Riverfront Campus just one year ago in a bid to lower operating expenses and improve efficiency, the company said.The company said last Friday that disappointing sales of wireless products and accessories would likely keep it from meeting its financial forecast for 2005. That announcement sent shares of the firm’s stock down 6.5% in trading Friday.

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