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FedEx Freight Facility in Texas Purchased for $25.7 Mil by Exchange Investor

4/06/20

A private investor involved in a 1031 exchange paid $25.7 mil for 7012 FM 3009, a 101k sf ($254/sf) mission critical facility leased to FedEx Frieght in Schertz, TX. It was sold by a California-based private investor.

The facility is strategically located northeast of San Antonio, with immediate proximity to Interstates 10 and 35, providing ease of access to trucking routes that serve some of the fastest growing cities in the country, including the nearby San Antonio MSA, as well as other key Texas metros like Austin, Dallas, and Houston. The property sits on nearly 33 acres, and it was originally constructed in 1995 as a 77k sf build-to-suit for the tenant. In 2013, the property was expanded to meet increasing service demands.

Mollie Alteri, Joey Odom, Mike Sladich, and Maggie Holmes of Stan Johnson Company represented the seller in the deal. The buyer, S&B Detrick LP, was repped by Cushman & Wakefield.

“The offering presented the buyer with an opportunity to acquire a logistically significant industrial asset on a long-term lease with a strong credit tenant,” said Alteri.

“The way in which we consume and move goods has changed dramatically this cycle, and recent events related to the emergence of COVID-19 have highlighted the critical importance of logistics and distribution infrastructure,” added Alteri. “This disposition illustrates that logistics and distribution assets continue to be highly favored by investors, especially when the occupying tenant is essential to our daily lives. FedEx is an industry leader and they’ve invested billions of dollars this cycle to expand network capabilities to meet the consumer at their doorstep, both facilitating the growth of e-commerce and stepping in as an essential service provider during the current health crisis.”






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