FedEx Corporation (NYSE: FDX) – Globally Recognized Tenant ($4.47B Net Worth) – Corporate Lease Guaranty – The lease is guaranteed by Federal Express Corporation (Standard & Poor’s “BBB” Bond Credit Rating), the world’s largest express transportation company providing a broad portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively under the FedEx brand. Headquartered in Memphis, TN, FedEx ships to more than 200 countries and territories using air, ground and sea networks to link more than 99% of the world’s GDP. In 2019, FedEx reported revenues of over $69.7 billion and an approximate net worth of $4.47B.
Build to Suit Construction – Long Operating History – Extensive Loading Capacity & Parking – Built in 1995 as a build to suit for FedEx, the Property consists of a 26,232-square-foot building that sits on an approximately 3.45-acre parcel. The building features (8) loading doors and expansive parking.
Drive-Around Truck Access – Proximity to SW Loop 323 (30,000+ CPD) & Tyler Pounds Regional Airport – Ease of Distribution – Situated on a fenced 3.45-acre parcel, the Tenant’s distribution process benefits from the securely gated full-circulation design, which provides trucks an excellent in/out flow around the site. The property is located just 500 feet from S SW Loop 323, the main travel artery throughout Tyler, offering quick access to Downtown less than 4 miles northwest, and beyond to Dallas/Fort Worth 100 miles to the west. Additionally, the property is strategically located just 6.5 miles from the Tyler Pounds Regional Airport, a state-of-the-art airport serving approximately 150,000 passengers a year.
Successful 25 Year Operating History – Absolute NNN Lease with Rent Growth – Recent 10-Year Lease Extension – Commitment to Site – FedEx has been operating at this location for 25 years and extended their lease an additional 10 years in 2017, demonstrating their commitment to the site. Additionally, the absolute triple-net lease features a rent increase of 17.5% in Year 6, and has (2) 5-year renewal options available, providing an investor with strong rent growth and minimal maintenance responsibilities.
Located in Tyler, TX – County Seat of Smith County – Major Economic & Cultural Hub of the County – 100 Miles East/Southeast of Dallas – The subject property is located in Tyler, the county seat of Smith County, located in east-central Texas, United States. The city of Tyler has long been Smith County’s major economic, educational, financial, medical, and cultural hub. The city is named for John Tyler, the tenth President of the United States. Tyler’s 2018 estimated population was 105,729.
Located approximately 100 miles east-southeast of Dallas, Tyler is the advanced manufacturing, health-care and retail center of East Texas, as well as Texas’ first Certified Retirement City. Tyler is known as the “Rose Capital of America” (also the “Rose City” and the “Rose Capital of the World”), a nickname it earned from a long history of rose production, cultivation, and processing. It is home to the largest rose garden in the United States, a 14-acre public garden complex that has over 38,000 rose bushes of at least 500 different varieties. The Tyler Rose Garden is also home to the annual Texas Rose Festival, attracting tourists by the thousands each year in mid-October. Tyler is also home to the Caldwell Zoo and Broadway Square Mall.