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.
SAN FRANCISCO, CA, April 22, 2020 /24-7PressRelease/ — 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. “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.
B+E is a modern investment brokerage firm, specializing in net lease real estate. The firm helps clients buy and sell single tenant real estate. Founded by deeply experienced brokers, B+E redefines trading through an intuitive end-to-end transaction platform comprising of user-friendly dashboards and an AI-driven exchange — all leveraging the largest data set in the net lease industry.
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