Salt Lake-based FranklinCovey said Monday that it has completed the sale and leaseback of its corporate headquarters.
The sale price to an undisclosed private investment group was $33.8 million in cash. After deducting closing costs, including commissions and a retirement of a remaining mortgage on one of the buildings, FranklinCovey received $32.4 million in net proceeds.
The company signed a 20-year master lease agreement and has six five-year options to renew the master agreement.
FranklinCovey said it will use $30 million from the sale to redeem shares of its preferred stock.
The company specializes in productivity products and services.
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Clayton Ward, a 10th-grader from West Jordan,has created five apps for the Apple operating systems.
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