EDEN PRAIRIE, Minn., Sept. 24 /PRNewswire/ -- Research, Inc. (Nasdaq: RESR) today announced that it has finalized a sale/leaseback contract with Continental Property Group, Inc., a Minneapolis-based real estate development company. Under the terms of the agreement, Research has sold its building and approximately 11 acres of surrounding land to Continental and subsequently will lease the property back. The sale price is $3,650,000, the proceeds of which will be used by Research to reduce debt and accelerate growth.

The transaction will allow Research to take advantage of deferred tax benefits and is expected to result in a pre-tax gain of $2.2 million, which will be ...