Winkle Electric Sold to Rexel, Its Building to Tareshawty Entity
YOUNGSTOWN, Ohio – The sale of Winkle Electric Co. in January to Rexel USA Inc. has resulted in the sale of its former headquarters at 1900 Hubbard Road to a local real estate investor.
Rexel USA is the domestic division of Rexel, a company based in Paris, France, that operates a network of over 1,900 branches in 24 countries, with more than 26,000 employees.
Winkle Electric, a distributor of Rockwell Automation technology, was acquired Jan. 3, according to industry reports. The sale price was not disclosed. In addition to its Youngstown operation, Rexel purchased Winkle’s location in Erie, Pa.
The Hubbard Road building is fully leased, according to the property listing. It sits on nearly five acres and was constructed in 1928.
Winkle Electric was founded in 1944 by the Teaberry family.
The Teaberry Family Limited Partnership sold the headquarters site here for $798,000. The new owner is Winkle Property LLC, an entity incorporated Feb. 23 by Craig N. Tareshawty.
Tareshawty and his business holdings own apartment complexes and commercial buildings across Mahoning County.
Most recently, Tareshawty incorporated 721 Property LLC, which paid $3 million March 25 to buy the commercial building at 721 Boardman-Poland Road in Boardman.
Image: File photo of Winkle Electric operating at 1900 Hubbard Road.
Copyright 2022 The Business Journal, Youngstown, Ohio.