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50 E 1300 S
Price, UT 84501

Essential Industrial- 3% annual rent bumps · Industrial Property For Sale

INVESTMENT HIGHLIGHTS

  • WHOLLY OWNED SUBSIDIARY OF SONEPAR USA (A-2)
  • 3% ANNUAL RENT INCREASES
  • 25-YEAR COMMITMENT TO MARKET
  • #1 ELECTRICAL DISTRIBUTOR
  • EXTRA STORAGE SPACE ON LOT
  • ESSENTIAL AND INTERNET-RESISTANT ASSET

PROPERTY FACTS

Property Type Industrial
Property Subtype Warehouse
Building Class B
Lot Size 1.75 AC
Rentable Building Area 25,860 SF
No. Stories 2
Year Built 2012
Tenancy Single
Clear Ceiling Height 30’
No. Dock-High Doors/Loading 4

ABOUT 50 E 1300 S , PRICE, UT 84501

WHOLLY OWNED SUBSIDIARY OF SONEPAR USA (A-2) Codale Electric Supply is a wholly owned subsidiary of Sonepar USA, which has an A-2 rating from S&P. Sonepar’s acquisition of Codale gives the company strategic positioning in the Utah, Nevada, and Wyoming markets; and strong financial backing. #1 ELECTRICAL DISTRIBUTOR Sonepar USA was ranked #1 on the ‘2019 MDM Market Leaders | Top Electrical Distributors’ list. Codale supplies all the markets served by Sonepar, including residential, commercial, industrial, and electrical infrastructures. 3% ANNUAL RENT INCREASES This asset features 3% annual rent increases, providing a natural hedge against inflation and increasing return over the life of the investment. 25-YEAR COMMITMENT TO MARKET This Codale branch is the only full-line electric company supporting Price and the surrounding communities. Codale Electric Supply has been operating its Price, Utah branch since 1995; the company had an original branch before constructing this location in 2012. Constructing this facility allowed Codale to expand its support of the mining, power, and gas companies in the area. ESSENTIAL AND INTERNET-RESISTANT ASSET Electrical distribution companies are deemed an essential business in times of crisis as they provide critical power distribution supplies and equipment. Additionally, the growth of the e-commerce industry has been a catalyst for an overall increase in industrial asset investment sales. The subject tenant’s asset class is considered industrial with a mixture of office and warehouse. The industrial component of the asset provides a hedge to the risks associated with e-commerce growth. 36% JUMP IN U.S. POWER DEMAND PROJECTED The U.S. is seeing growing electrification happening throughout the energy sector with electricity going into sectors that were confined to other fuels. NREL forecasts a 36% jump in U.S. power demand by 2050. ~70-MILE SERVICE RADIUS AND NOTABLE STATE CONTRACT This is the only Codale Electric Supply location within a 70-mile radius and serves the +/- 13 mines within the radius. Additionally, Codale currently holds the State of Utah Lighting and Ballast Contract.

  • Listing ID: 19130485

  • Date on Market: 4/6/2020

  • Last Updated:

  • Address: 50 E 1300 S, Price, UT 84501