Corporate-tenant lease-back properties
In the commercial arena I've been seeing many listings for corporate-owed properties with lease-backs. I'm curious why a corporation would want to sell-off their property and loose control of both their rent and an appreciating asset on their books? As a buyer, it's tempting as you have a well established tenant with corporate backing, and a NNN lease. But something about it almost seems like a sucker's bet. If the property is so valuable, why wouldn't the corporation hold on to it? Granted as with any property purchase there are many variables to consider that would make a good deal vs. a bad deal (solvency of the corporation, strength of the lease, remaining term, renewal options, ease of re-purposing / placing new tenant, etc). However I'm curious to hear the 10,000 ft view on this asset class from fellow BPers.