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Office Warehouse

C B Distributors, Inc.

2500 Kennedy Dr, Beloit, WI 53511

Listing Price: $3,800,000

Cap Rate
7.00%
Gross SF
56,035
Price/Gross SF
$67.81
Lot Size
5.06 acres
Year Built
2005
Rentable SF
56,035

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the CB Distributors, Inc. property located at 2500 Kennedy Drive, Beloit, WI offered as a Sale and Lease Back . The property was built to suit for the tenant in 2005. The building is 56,035 square feet with approximately 90% warehouse, including a 3,100 square foot enclosed and secured temperature controlled storage area with racking, Five Dock Doors and One Drive In Bay, Fork Lift Charging Stations, and Security system; and 10% Office Buildout –Headquarters for CB Distributors, Inc. Buildout includes a reception area, conference room, break room, accounting offices, business development and customer service offices, as well as an executive suite. The Offering is a Sale and Lease back with the tenant starting a new NNN lease with an initial five year term, and 2% annual rent escalations, at the close of escrow. The lease allows for two additional five year renewal periods. The Rock County (Janesville-Beloit, WI) industrial market is located along the I-39/I-90/I-43 Logistics Corridor including road, rail and air transportation, boasting over 27 Million Square Feet of Industrial Inventory with market vacancy of a meager 1.5%. Market rents are increasing with the average warehouse market rent at $4.77 SF and 3.9% annual rental growth, easily exceeding the 2.5% average annual rent growth over the past decade. Founded in 1995, CB Distributors, Inc. is a mid-market company and is known as the leading wholesale provider to the Convenience Store industry with distribution clients large and small who service convenience stores including Flash Market, Circle K, Mapco, Speedway, Murphy Oil, along with other store operators in the Midwest, Southwest and Southeast. CB Distributors specializes in the procurement and distribution of four high margin consumer categories including: cell phone accessories, CBD products, sunglasses, energy supplements. CB Distributors, Inc. also procures and distributes a wide variety of merchandise typically found in convenience stores from hats and apparel to health and beauty and general merchandise items. In addition to offering products that feature the latest technology, highest quality and competitive pricing, customer satisfaction is a top priority. Annual revenues average over $23 Million. Rock County’s Major Employers include Mercyhealth, Beloit Health, Grainger, ABC Supply Company, Inc., Kerry Americas, SSI Technologies, Inc., Frito-Lay, Fairbanks Morse Engines, Seneca Foods Corporation, Serta-Simmons Bedding Company, Hormel, Ecolab, Kettle Foods and several large distribution facilities including Dollar General, and the Staples Fulfillment Center. The area is home to several higher education institutions providing an educated work force including Beloit College, Concordia University, Cardinal Stritch University, Blackhawk Technical College, University of Wisconsin-Rock County, Upper Iowa University, and Rock River Christian College. Beloit, WI is just North of the Illinois border and 19 miles North of Rockford, IL. Beloit is less than one hour South of Madison, WI (State Capitol and Home to UW Madison-a Big 10 University) and one hour and fifteen minutes to Milwaukee, WI. Dubuque, Iowa is 92 miles due West of Beloit. Chicago is two hours to the Southeast of Beloit.

Investment Highlights

  • Sale and Lease Back of CB Distributors, Inc. Distribution Warehouse. 56.035 SF RBA with Ten Percent Office Buildout and Temp Controlled Storage in the Beloit Gateway Industrial Park
  • Initial 5 year lease at market rent signed at Close of Escrow. (2) Five Year Renewal Options. Excellent Inflation Hedge - Two Percent Annual Rental Increases
  • CB Distributors, Inc. is the Leading Wholesale Provider to Distributors servicing the Convenience Store Industry Across the US

Exclusively Listed By

Broker of Record

  • Todd Lindblom

    Vice President/Regional Manager

    (262) 364-1964

    License(s) WI: 56163-90

    Wisconsin

Financing By

Office Warehouse

C B Distributors, Inc.

Listing Price: $3,800,000

Cap Rate
7.00%
Gross SF
56,035
Price/Gross SF
$67.81
Lot Size
5.06 acres
Year Built
2005
Rentable SF
56,035

Investment Highlights

  • Sale and Lease Back of CB Distributors, Inc. Distribution Warehouse. 56.035 SF RBA with Ten Percent Office Buildout and Temp Controlled Storage in the Beloit Gateway Industrial Park
  • Initial 5 year lease at market rent signed at Close of Escrow. (2) Five Year Renewal Options. Excellent Inflation Hedge - Two Percent Annual Rental Increases
  • CB Distributors, Inc. is the Leading Wholesale Provider to Distributors servicing the Convenience Store Industry Across the US

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the CB Distributors, Inc. property located at 2500 Kennedy Drive, Beloit, WI offered as a Sale and Lease Back . The property was built to suit for the tenant in 2005. The building is 56,035 square feet with approximately 90% warehouse, including a 3,100 square foot enclosed and secured temperature controlled storage area with racking, Five Dock Doors and One Drive In Bay, Fork Lift Charging Stations, and Security system; and 10% Office Buildout –Headquarters for CB Distributors, Inc. Buildout includes a reception area, conference room, break room, accounting offices, business development and customer service offices, as well as an executive suite. The Offering is a Sale and Lease back with the tenant starting a new NNN lease with an initial five year term, and 2% annual rent escalations, at the close of escrow. The lease allows for two additional five year renewal periods. The Rock County (Janesville-Beloit, WI) industrial market is located along the I-39/I-90/I-43 Logistics Corridor including road, rail and air transportation, boasting over 27 Million Square Feet of Industrial Inventory with market vacancy of a meager 1.5%. Market rents are increasing with the average warehouse market rent at $4.77 SF and 3.9% annual rental growth, easily exceeding the 2.5% average annual rent growth over the past decade. Founded in 1995, CB Distributors, Inc. is a mid-market company and is known as the leading wholesale provider to the Convenience Store industry with distribution clients large and small who service convenience stores including Flash Market, Circle K, Mapco, Speedway, Murphy Oil, along with other store operators in the Midwest, Southwest and Southeast. CB Distributors specializes in the procurement and distribution of four high margin consumer categories including: cell phone accessories, CBD products, sunglasses, energy supplements. CB Distributors, Inc. also procures and distributes a wide variety of merchandise typically found in convenience stores from hats and apparel to health and beauty and general merchandise items. In addition to offering products that feature the latest technology, highest quality and competitive pricing, customer satisfaction is a top priority. Annual revenues average over $23 Million. Rock County’s Major Employers include Mercyhealth, Beloit Health, Grainger, ABC Supply Company, Inc., Kerry Americas, SSI Technologies, Inc., Frito-Lay, Fairbanks Morse Engines, Seneca Foods Corporation, Serta-Simmons Bedding Company, Hormel, Ecolab, Kettle Foods and several large distribution facilities including Dollar General, and the Staples Fulfillment Center. The area is home to several higher education institutions providing an educated work force including Beloit College, Concordia University, Cardinal Stritch University, Blackhawk Technical College, University of Wisconsin-Rock County, Upper Iowa University, and Rock River Christian College. Beloit, WI is just North of the Illinois border and 19 miles North of Rockford, IL. Beloit is less than one hour South of Madison, WI (State Capitol and Home to UW Madison-a Big 10 University) and one hour and fifteen minutes to Milwaukee, WI. Dubuque, Iowa is 92 miles due West of Beloit. Chicago is two hours to the Southeast of Beloit.

Exclusively Listed By

Broker of Record

  • Todd Lindblom

    Vice President/Regional Manager

    (262) 364-1964

    License(s): WI: 56163-90

    Wisconsin

Financing By

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