PetMed Express, Inc. entered into a definitive agreement to sell its headquarters and distribution center buildings in Delray Beach, Florida, to Redfearn Capital Acquisitions, LLC for $37.0 million via a sale-leaseback transaction. The company will lease back 100,519 square feet of space for a 120-month term with a starting base rent of $15.25 per square foot and annual 3.5% increases. PetMed Express, Inc. operates in the pet healthcare sector as an online pharmacy provider.
