The property is leased to Consolidated Electrical Distributors, Inc. (CED), a nationwide network of sales and distribution warehouses. The Tenant has leased the building for many years, and recently entered into a 5-year lease extension expiring December 31, 2021. Tenant has an option to renew the lease for an additional 5-year term. Tenant pays all expenses other than building insurance and exterior maintenance. 7.0% cap rate. Lease has a CPI adjustment each January with max of 3%. Seller is in the process of installing new exterior personnel doors, and other upgrades.
Additional Downloadable Documents
CED Building - marketing circular
Legal description - Exhibit A