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."