Polk Properties and B+E announces sale of Wesco (NYSE:WCC) Distribution Center in Columbus, OH

Los Angeles, May 11, 2019 (Issuewire.com) – B+E announces the sale of Wesco (NYSE: WCC) Distribution Center in Columbus, OH, for $3.35 million

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The +/- 33,197 square foot, triple net lease industrial/office property was built in 2000 and renovated in 2007 and carries a cap rate of 7.93%, with 4+ years of remaining lease term. The buyer is Third Coast, a 1031 exchanger from Grand Rapids, MI. The seller is a private individual.

Wesco International, Inc. (S&P rating BB), is a leading Fortune 500 distributor of electrical products with more than $7 billion in revenues. Wesco will continue to occupy the property.

“We were happy to source a 1031 exchange buyer for the sale of this property,” said Daniel Zimmerman, Director at B+E. The property was offered exclusively by B+E in conjunction with Michael Polk of Polk Properties.

With offices in New York, Chicago, Tampa, and San Francisco, B+E sets the modern standard for net lease real estate brokerage services and performance. The B+E trading platform consists of user-friendly dashboards, real-time predictive pricing and an AI-driven exchange–all leveraging the largest data set in the industry. Buyers and sellers can conduct entire NNN transactions online, reviewing real-time credit, news and tenant data while they trade, much like online stock trading platforms. The mission of B+E is to help virtually anyone confidently trade net lease.

Source :Polk Properties

This article was originally published by IssueWire. Read the original article here.

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