OH Distribution Center Changes Hands for $40M

Broadstone Net Lease Inc. has acquired the roughly 211,000-square-foot facility, which recently underwent an expansion and is fully leased to a frozen, refrigerated and dry foods distributor.
Anderson-DuBose Distribution Center
Anderson-DuBose Distribution Center

CBRE National Partners has arranged the sale of Anderson-DuBose Distribution Center, a 210,497-square-foot industrial facility outside of Warren, Ohio. According to public records, Broadstone Net Lease Inc. acquired the property for $39.7 million from a REIT managed by U.S. Realty Advisors LLC.

Located at 5300 Tod Ave. S.W., Anderson-DuBose Distribution Center is part of Ohio Commerce Center and it is close to Interstate 80. The property is currently occupied by The Anderson-DuBose Co., a distributor of frozen, refrigerated and dry foods, as well as paper goods and other products. Completed in 2012, the asset was built according to the needs of the distribution company, and in 2017 it was extended in order to meet increased throughput of product.

Jeffrey Shell and Amie Sweeney of CBRE Corporate Capital Markets, along with Michael Hines, Brian Fiumara, Brad Ruppel and Lauren Dawicki of CBRE National Partners, represented the seller in the transaction. Steve Roth of CBRE Debt & Structured Finance secured the financing on behalf of the buyer/borrower.

In early 2018, CBRE’s Akron office brokered the sale of two former Wrayco facilities in Stow, Ohio. The manufacturing buildings encompass approximately 240,000 square feet.

Image courtesy of CBRE