Scholastic closes $481 million sale-leaseback of NYC headquarters and Missouri facility
Scholastic completed sale-leaseback transactions on December 17, 2025, selling its New York City headquarters at 555-557 Broadway and its Jefferson City, Missouri distribution facility for $481 million in total proceeds. The company estimates net proceeds of $401 million after taxes, fees and transaction expenses, which it plans to use under its capital allocation priorities, including share repurchases. Scholastic will continue to lease both properties under long-term agreements, so it takes on rent obligations of $333,059,306.47 in total fixed rent for the SoHo lease alone over its initial term.
Key points
- Closed December 17, 2025: sold 555-557 Broadway (NYC headquarters) to a subsidiary of Empire State Realty Trust and the Jefferson City facility to funds managed by affiliates of Fortress Investment Group
- Total proceeds of $481 million; estimated net proceeds of $401 million after taxes, fees and transaction expenses
- SoHo lease: 15-year initial term with two 10-year renewal options; total fixed rent of $333,059,306.47 over the initial term, plus a proportionate share of operating expense, tax and insurance increases
- Jefferson City lease: 20-year initial term; initial annual base rent of approximately $6,886,000, triple net, with rent adjusted annually by CPI subject to a 4% cap and 1% collar
The filing
Written by AI on Nov 8, 2026, 2:07 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on December 18, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.