Office Warehouse
World Electric
6780 White Dr, Riviera Beach, FL 33407
Listing Price: $4,200,000
Investment Overview
Marcus & Millichap, as exclusive advisor, is pleased to present for sale World Electric Industrial (the “Property”), a 25,000-square- foot, single-tenant industrial facility located at 6780 White Drive in Riviera Beach, Florida. This Property stands out with its full occupancy, hosting World Electric Supply as the sole tenant, operating under a Triple-Net lease agreement.
Spanning a total parcel of over two acres, the building itself reaches 28 feet in height, featuring 24-foot clear heights, six dock-high loading bays, and one drive-in door, offering both versatility and functionality. The Property encompasses a retail storefront area along with a portion of back-office space, housing several personal offices, an open bullpen area, kitchen, and conference room.
The current lease agreement with World Electric Supply extends until Dec 30th, 2026, and includes a
provision for a one-time, five-year extension at a negotiable market rate. Notably, the lease is set at a well-below market rate of $8.11 per square foot, providing investors with immediate value and promising potential for increased cash flow in the future. This offering presents an exceptional opportunity to secure a fully occupied asset with a nationally recognized tenant and no landlord responsibilities in a flourishing market. The Property’s upside potential is further enhanced by its well-maintained status and attractive cash flow, underscored by the inclusion of a market-rate lease clause, making it an excellent investment opportunity.
World Electric Supply holds a significant position within the esteemed Sonepar Group, a distinguished independent family-owned company that leads the global B-to-B distribution of electrical products, solutions, and related services. With an extensive network spanning 80 brands across 40 countries, Sonepar is renowned as the first global B-to-B electrical distributor to offer a fully digitized and synchronized omnichannel experience to all customers. Supported by an S&P Global rating of A-2, Sonepar boasts a workforce of 45,000 associates and achieved sales totaling $33.3 billion in 2023.
World Electric
Investment Highlights
- Strong National Tenant:The Property is fully occupied by World Electric Supply, a prominent member of the Sonepar Group and a leading distributor of electrical products, solutions, and related service
- Outdoor Storage: Offering nearly an acre-and-a-half of outdoor storage space available, the Property offers additional flexibility and potential for various industrial and storage-related activities
- Mark-To-Market Opportunity:Investors have the opportunity to capitalize on future upside potential through a market-rate lease clause, allowing for adjustments to lease terms
- Excellent Access to And from Surrounding Areas: Positioned strategically with convenient proximity to Interstate 95 (I-95), providing seamless connectivity to major transportation ro tes and facilitating easy access for tenants, customers, and logistics operations.
- Strengthening Submarket: Rising demand, positive absorption, and decreasing vacancies in the Industrial market create favorable conditions, driving up average rents and enhancing submarket appeal.
Exclusively Listed By
Listing Price: $4,200,000
Investment Highlights
- Strong National Tenant:The Property is fully occupied by World Electric Supply, a prominent member of the Sonepar Group and a leading distributor of electrical products, solutions, and related service
- Outdoor Storage: Offering nearly an acre-and-a-half of outdoor storage space available, the Property offers additional flexibility and potential for various industrial and storage-related activities
- Mark-To-Market Opportunity:Investors have the opportunity to capitalize on future upside potential through a market-rate lease clause, allowing for adjustments to lease terms
- Excellent Access to And from Surrounding Areas: Positioned strategically with convenient proximity to Interstate 95 (I-95), providing seamless connectivity to major transportation ro tes and facilitating easy access for tenants, customers, and logistics operations.
- Strengthening Submarket: Rising demand, positive absorption, and decreasing vacancies in the Industrial market create favorable conditions, driving up average rents and enhancing submarket appeal.
Investment Overview
Marcus & Millichap, as exclusive advisor, is pleased to present for sale World Electric Industrial (the “Property”), a 25,000-square- foot, single-tenant industrial facility located at 6780 White Drive in Riviera Beach, Florida. This Property stands out with its full occupancy, hosting World Electric Supply as the sole tenant, operating under a Triple-Net lease agreement. Spanning a total parcel of over two acres, the building itself reaches 28 feet in height, featuring 24-foot clear heights, six dock-high loading bays, and one drive-in door, offering both versatility and functionality. The Property encompasses a retail storefront area along with a portion of back-office space, housing several personal offices, an open bullpen area, kitchen, and conference room. The current lease agreement with World Electric Supply extends until Dec 30th, 2026, and includes a provision for a one-time, five-year extension at a negotiable market rate. Notably, the lease is set at a well-below market rate of $8.11 per square foot, providing investors with immediate value and promising potential for increased cash flow in the future. This offering presents an exceptional opportunity to secure a fully occupied asset with a nationally recognized tenant and no landlord responsibilities in a flourishing market. The Property’s upside potential is further enhanced by its well-maintained status and attractive cash flow, underscored by the inclusion of a market-rate lease clause, making it an excellent investment opportunity. World Electric Supply holds a significant position within the esteemed Sonepar Group, a distinguished independent family-owned company that leads the global B-to-B distribution of electrical products, solutions, and related services. With an extensive network spanning 80 brands across 40 countries, Sonepar is renowned as the first global B-to-B electrical distributor to offer a fully digitized and synchronized omnichannel experience to all customers. Supported by an S&P Global rating of A-2, Sonepar boasts a workforce of 45,000 associates and achieved sales totaling $33.3 billion in 2023.
Exclusively Listed By
