Best Buy warehouse in Polk sold for nearly $50M

A Best Buy distribution center and warehouse in Polk County has been sold for $49.5 million. 

The seller of the property, a 650,808-square-foot single tenant facility in Polk City, is Phoenix-based Tratt Properties, though affiliates B.B. Lakeland LLC and B.B. Zion Holdings LLC. Tratt Properties, which announced the deal, says the facility, on a 45.7-acre site at 8906 N. Road 33, was a build-to-suit for Best Buy to consolidate and expand operations in the growing market. 

"This transaction reflects our ongoing strategy to identify and capitalize on high-performing logistics assets in dynamic markets,” Tratt Properties Principal Jonathan Tratt says in the statement. Tratt Properties buys and develops institutional grade logistics and e-commerce properties nationwide. “The Polk City facility has proven to be a valuable part of our portfolio, and we’re proud to have played a role in supporting Best Buy’s operational growth."

The deal closed in October.

The buyers, according to Polk County property records, are Polk Capital LLC and Camelot Holding LP — both traced back to John Safi and Danielle Safi of South Florida and California. Polk Capital LLC is managed by both John Safi and Danielle Safi and Safco Management Corp., all with the same Miami Beach address, Florida Department of State Records show. The address of the other buyer in Polk records, Camelot Holding LP, is on Santa Monica Boulevard in Los Angeles; Danielle Liliana Safi, an attorney, shares the same address, according to California state bar records.

John Huguenard, Taylor Osborne, Morgan Davis, Luis Castillo and Stephanie Ruys, all with JLL Capital Markets, represented the buyer; Cody Brais, also with LL Capital Markets, represented the seller.