Cleveland – September 30, 2026 -- Brown Gibbons Lang & Company (BGL) has closed a sale-leaseback transaction covering the five-property, approximately 480,000-square-foot industrial portfolio of Forms+Surfaces, Inc. (F+S), with an institutional net lease buyer acquiring the properties located in Pittsburgh, Pennsylvania, and Phoenix, Arizona. Financial terms were not disclosed.
Portfolio spans two manufacturing hubs supporting F+S's core product lines
The five properties back F+S's two primary business units: architectural products manufactured in Phoenix and site products produced in Pittsburgh. The combined facilities support a product range that includes elevator interiors, wall and column systems, security bollards, pedestrian lighting, and outdoor site furniture designed for airports, healthcare facilities, universities, and commercial developments.
BGL's Real Estate team acted as exclusive financial advisor to F+S
BGL structured the deal to align with F+S's operational and financial objectives across the two-state footprint, converting owned industrial real estate into leased facilities while freeing up capital tied to the properties. The transaction involved coordinating a multi-site disposition to a single institutional net lease buyer.
F+S retains manufacturing operations under long-term lease terms
Under the sale-leaseback structure, F+S continues to operate its Phoenix and Pittsburgh facilities as a tenant following the ownership transfer, allowing uninterrupted production for its architectural and site products businesses serving airports, commercial buildings, hospitality venues, and civic centers across North America and internationally.