Mary Kay Cosmetics Ends Deal for Headquarters

Mary Kay Cosmetics Inc. said the contract for sale and lease-back of its headquarters building in Dallas, which was subject to certain conditions has been terminated.

The company said on Feb. 8 that it had entered into separate contracts for the sale and lease-back of its headquarters building and four of its distribution centers for a total of about $34.5 million.

The buyers weren’t identified, but Mary Kay Cosmetics said its headquarters building would be sold for $17 million. Of this amount, $9.1 million was to be paid in cash and $7.9 million in a five-year note.