St. Louis, MO, June 25, 2014 --(PR.com
)-- Westwood Net Lease Advisor vice president Vince Vatterott recently represented the Buckingham Properties REIT (real estate investment trust) based in Rochester, N.Y. in the acquisition of a $7.4 million automotive parts manufacturing facility located in Tallassee, Ala. The seller is local Tallassee business owner Jason Benton.
Vatterott, an industrial investment broker familiar with Buckingham's acquisition criteria, identified the property as an opportunity. He was able to structure an agreeable sale in spite of an early lease termination clause resulting in an above market cap rate for his client.
The 100,000-square-foot, five-year-old property located at 50 Hanil Dr. currently serves as a manufacturing facility for Hanil USA, Inc., which operates as a subsidiary of TI Automotive. Hanil USA, Inc. supplies brake, fuel and power steering tubes for Hyundai vehicles. The company assembles and manufactures plastic and steel tube components and fluid lines for brakes, fuel and power steering.
"We pride ourselves on identifying properties that fit the specific acquisition criteria of our clients rather than the 'shotgun' approach," said Vatterott. "This extra effort builds trust and confidence in our client relationships."
Westwood Net Lease Advisors, which links buyers and sellers in the triple-net marketplace, specializes in 1031 tax-deferred exchanges for investment properties. The company, located at 1401 S. Brentwood Blvd. in St. Louis, Mo. and is an affiliate of Hilliker Corporation, was founded in 2002. For more information, call (314) 997-5227.