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B+E Announces Sale of Wesco Distribution Center in Columbus, OH, for $3.35 million

247PRESSRELEASE

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.

NEW YORK, NY, January 14, 2019 /24-7PressRelease/ — B+E, the first tech-driven brokerage and trading platform for net lease real estate, today announced the sale of the Wesco (NYSE:WCC) distribution center, located at 2256 Citygate Drive in Columbus, OH, for $3,350,000.

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. Property was offered exclusively by B+E in conjunction with Michael Polk of Polk Properties.

For more information on this transaction, contact Daniel Zimmerman at dzimmerman@benetlease.com or go to www.benetlease.com

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.

Press Release Contact:
John Vita
John Steven Vita Communications
John.vita@jsvcom.com
847/853-8283