 |
| Codale Electric Distribution property, Price, UT |
SAN FRANCISCO, CA, April 20, 2020 -- B+E, the first brokerage and technology platform for net lease real estate, announced the listing of the Codale Electric Distribution property located at 50 East 1300, Price, Utah for $4,200,000.
The property is +/- 25,860 square feet and sits on +/- 1.75 acres of land with extra storage and is listed at an initial cap rate of 6.25%. There are approximately seven years remaining on the lease with 3% rent escalations every year.
“Electrical distribution companies are deemed an essential business in times of crisis as they provide critical power distribution supplies and equipment,” said Spencer Henderson with B+E.
 |
| Spencer Henderson |
“Additionally, the growth of the e-commerce industry has been a catalyst for an overall increase in industrial asset investment sales.”
Codale Electric Supply has been operating its Price, Utah branch since 1995, and currently operates fourteen branch locations carrying the largest inventory in the western region.
In 2012, Codale was acquired by Sonepar (A2 credit rating), a global market leader in B-to-B distribution of electrical products with sales of $24.4 billion.
For more information, contact Spencer Henderson at shenderson@benetlease.com, or go to www.benetlease.com
Contact:
John Vita
John Steven Vita Communications
847/853-8283
No comments:
Post a Comment