May 19, 2024 10:15 pm
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Nikola sells Coolidge site to investor

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By Audrey Jensen | Phoenix Business Journal

A real estate investor has acquired nearly 400 acres of land in Coolidge from electric vehicle and hydrogen-fuel truck maker Nikola Corp. and signed a lease agreement with the company for its existing manufacturing plant on the large property.

An entity tied to Scottsdale-based STORE Capital Corp., a net-lease real estate investment trust, or REIT, purchased 394 acres from Phoenix-based Nikola (Nasdaq: NKLA) for $50.4 million, or about $127,708 an acre at the end of June, according to Pinal County documents and real estate database Vizzda.

Read the full subscription story from the Phoenix Business Journal.

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