{"id":1004157078,"date":"2016-10-27T08:29:17","date_gmt":"2016-10-27T16:29:17","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004157078"},"modified":"2020-05-18T15:55:27","modified_gmt":"2020-05-18T23:55:27","slug":"best-buys-second-largest-distribution-center-up-for-sale","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/best-buys-second-largest-distribution-center-up-for-sale\/","title":{"rendered":"Best Buy\u2019s Second-Largest Distribution Center Up for Sale"},"content":{"rendered":"<p>by Laura Calugar<\/p>\n<p><strong>Findlay, Ohio<\/strong>\u2014Lori Schneider, a senior vice president investments at <a href=\"https:\/\/www.marcusmillichap.com\/\" rel=\"nofollow\" target=\"_blank\">Marcus &amp; Millichap<\/a>, has been exclusively engaged to market for sale <a href=\"https:\/\/www.bestbuy.com\/\" rel=\"nofollow\" target=\"_blank\">Best Buy<\/a>\u2019s second-largest distribution facility. Schneider is representing the seller, a private investor from Florida. The property is offered on an open bid basis.<\/p>\n<div id=\"attachment_1004157079\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Capture13.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004157079\" data-attachment-id=\"1004157079\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/best-buys-second-largest-distribution-center-up-for-sale\/capture-52\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Capture13.jpg\" data-orig-size=\"1406,658\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Laura Calugar&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1477501501&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Capture\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Capture13.jpg?w=1024\" class=\"wp-image-1004157079 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Capture13.jpg\" alt=\"Best Buy's distribution center in Findlay, Ohio \" width=\"300\" height=\"140\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Capture13.jpg 1406w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Capture13.jpg?resize=300,140 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Capture13.jpg?resize=768,359 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Capture13.jpg?resize=1024,479 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004157079\" class=\"wp-caption-text\">Best Buy&#8217;s distribution center in Findlay, Ohio<\/p><\/div>\n<p>Situated on a 99-acre site in the northwestern part of Ohio, the property is strategically located and provides a $3.2 million annual rent with scheduled increases. The site offers investors immediate cash flow and opportunities for appreciation.<\/p>\n<p>\u201cThe qualified buyer pool for this property is broad. It could appeal to institutions wanting to obtain an <a href=\"https:\/\/www.commercialsearch.com\/news\/investment\/\" target=\"_blank\">investment<\/a>-grade-tenant revenue stream or to high-net-worth private investors seeking management-free long-term yield with increasing cash flow. The property serves as a regional distribution hub for Best Buy\u2019s e-commerce and direct store fulfillment operations,\u201d said Schneider in a prepared statement.<\/p>\n<p>Best Buy is well-positioned near Interstate 75 and conveniently located near the CSX freight train railroad in a designated Foreign-Trade zone. Due to the attractiveness of the area, distribution centers including <a href=\"https:\/\/www.whirlpool.com\/\" rel=\"nofollow\" target=\"_blank\">Whirlpool<\/a>, Lowe\u2019s and Kohl\u2019s are also nearby. Recently, Whirlpool invested <a href=\"https:\/\/www.commercialsearch.com\/news\/whirlpool-investing-80m-in-ohio-expansion\/\" target=\"_blank\">$40 million<\/a> in a manufacturing facility in the same area.<\/p>\n<p>\u201cAs e-commerce continues to drive demand for industrial space, distribution centers have become a highly desired asset class for investors\u2019 long-term investment objectives,\u201d said Schneider.<\/p>\n<p>Best Buy operates more than 1,150 stores across the U.S. and Canada. The company started operations as a retail store called Sound of Music in 1966. After 17 years, it changed its name to Best Buy. Today, it is a multinational company that employs approximately 167,000 people.<\/p>\n<p><em>Image via Google Street View <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Marcus &#038; Millichap will exclusively market for sale the 1,025,063-square-foot property in Findlay, Ohio. <\/p>\n","protected":false},"author":238,"featured_media":1004157079,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21748,21783,13,21742],"tags":[],"class_list":["post-1004157078","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-industrial","category-investment","category-midwest","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Best Buy\u2019s Second-Largest Distribution Center Up for Sale - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/best-buys-second-largest-distribution-center-up-for-sale\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Best Buy\u2019s Second-Largest Distribution Center Up for Sale\" \/>\n<meta property=\"og:description\" content=\"Marcus &amp; Millichap will exclusively market for sale the 1,025,063-square-foot property in Findlay, Ohio.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/best-buys-second-largest-distribution-center-up-for-sale\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-10-27T16:29:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-18T23:55:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Capture13.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1406\" \/>\n\t<meta property=\"og:image:height\" content=\"658\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Laura Valean\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/best-buys-second-largest-distribution-center-up-for-sale\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/best-buys-second-largest-distribution-center-up-for-sale\\\/\"},\"author\":{\"name\":\"Laura Valean\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/2f8b737fce677cc406c08a2c29c1ff38\"},\"headline\":\"Best Buy\u2019s Second-Largest Distribution Center Up for Sale\",\"datePublished\":\"2016-10-27T16:29:17+00:00\",\"dateModified\":\"2020-05-18T23:55:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/best-buys-second-largest-distribution-center-up-for-sale\\\/\"},\"wordCount\":292,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/best-buys-second-largest-distribution-center-up-for-sale\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2016\\\/10\\\/Capture13.jpg\",\"articleSection\":[\"Finance\",\"Industrial\",\"Investment\",\"Midwest\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/best-buys-second-largest-distribution-center-up-for-sale\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/best-buys-second-largest-distribution-center-up-for-sale\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/best-buys-second-largest-distribution-center-up-for-sale\\\/\",\"name\":\"Best Buy\u2019s Second-Largest Distribution Center Up for Sale - 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