YRC Sells Headquarters in Lease-Back Plan

YRC Worldwide Inc. has sold its Kansas City, Kan., area headquarters to raise cash, but the company will remain at the site in a lease-back plan, the Kansas City Business Journal reported.

Citing real estate records, the property will be leased back to YRC in a potential 30-year lease plan, the paper reported on its Web site.

The purchase was led by a group of local investors led by Kansas City real estate firm Block & Co., in a deal worth about $22.5 million, the Journal said.

“The monetization of real estate assets is a part of YRC Worldwide’s ongoing financial strategy to weather the recession and enhance its liquidity position,” YRC said in an e-mailed statement to the Journal.

YRC’s corporate headquarters is and will continue to be located at its Overland Park, Kan., location, the statement said.

YRC Worldwide is ranked No. 4 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.