B+E brokers sell new Michigan Tesla Service Center for $22.5M
B+E, the first brokerage and technology platform for net lease real estate, today announced the sale of the Tesla Service Center in Ann Arbor, MI for $22,508,422.
This newly constructed Tesla Service Center is the third Tesla location in Michigan. B+E brought the deal to close prior to the rent commencement date on its newly executed lease.
“B+E was able to leverage our 1031 platform to connect an exchange buyer with a very short timeline to an off-market Tesla Service location opportunity,” said B+E brokers Hayden Salvas and Spencer Henderson. “We are pleased to have achieved both a great exit price for the developer and satisfy a large 1031 need.”
In the last year, B+E has seen a large increase in volume of off-market deals and a corresponding shift in the transaction timeline for properties under construction.
Source: Digital Journal