NORTHFIELD, IL—Kraft Foods Group Inc. has completed a sale-leaseback transaction with W.P. Carey, a REIT, for an undisclosed amount.
Kraft has reportedly leased its 73-acre campus at Three Lakes Drive here for at least 10 years. A Cushman & Wakefield team led by Michael Rotchford, Louis Wolfowitz, Robert Elms, Ned Franke and Christopher Porter advised Kraft on the transaction.
The food company split last summer into two firms, with snack foods going with Mondelez International Inc. to 105,000 sq. ft. at Three Parkway Boulevard N. in Deerfield, Ill. Cushman & Wakefield also arranged the sale of the main firm’s 500,000-sq.-ft. headquarters campus in Glenview, Ill. to Hamilton Partners late last year.
According to C&W, Kraft Foods has recently made significant renovations to the Northfield campus and plans to relocate approximately 700 employees to the building from its old headquarters in Glenview by the end of 2013.