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Ohio Best Buy warehouse sells for $46M

Marcus & Millichap announced that Lori Schneider, senior managing director investments, has arranged the $46 million sale of a 1,025,063-square-foot Best Buy distribution center in Findlay, Ohio.

 

Schneider exclusively represented the seller, a private investor, and procured the buyer, a national real estate investment trust. The property is Best Buy’s second-largest distribution facility and serves as one of the retailer’s regional distribution hubs for e-commerce and direct store fulfillment operations.

 

“The market was receptive to the property as net-leased distribution centers are a desirable asset class,” says Schneider. “E-commerce, which is the fastest-growing sector in the retail industry, fuels the need for warehousing and distribution centers.”

 

Schneider was Marcus & Millichap’s No. 1 agent for the sale of multi-tenant retail properties nationwide in 2016. Michael Glass, first vice president and division manager, is Marcus & Millichap’s broker of record in Ohio.

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