Tuesday Morning Deals Headquarters, Warehouse Facilities

In an updated reorganization plan filed last week, Tuesday Morning entered a sale/leaseback arrangement for its headquarters and warehouse facilities in Dallas for $60 million.

Rialto Real Estate Fund IV – Property LP is the sale leaseback counterpart Tuesday Morning noted in a filing with the United States Bankruptcy Court for the Northern District Dallas Division.

The headquarters facility leasing arrangement will have a 10-year term and the lease of the warehouse facilities will have an initial 2.5 year term with an option to extend the warehouse facilities lease for one additional year.

Tuesday Morning has already begun closing stores after filling for Chapter 11 bankruptcy protection in May, with the goal of scaling back the chain to 550 locations.