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 – Extensive Loading Capacity & Parking – Built in 1993 as a build to suit for FedEx, the Property consists of a 36,789-square-foot building that sits on an approximately 7.60-acre parcel. The building features (7) loading doors and expansive parking.
Real Estate Advantage – Situated at Intersection of Interstate 80 & SR-46 – Quick Access to Downtown New York & New Jersey, and on to Pittsburgh & Cleveland – Situated on a 7.60-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 at the intersection of Interstate 80 and SR-46, providing for quick access to Downtown New York & New Jersey just 40 miles east, and Cleveland & Pittsburgh to the west.
Successful 27 Year Operating History – Multiple Lease Extensions – Commitment to Site – FedEx has been operating at this location for over 27 years and extended their lease an additional 10 years in 2013, demonstrating their commitment to the site. Additionally, the double-net (NN) lease features (1) 5-year renewal option.
Located in Mount Olive Township – One of the Best Places to Live in New Jersey – Proximity to Ports, Airports, Distribution Networks – Ideal Location for Business – The subject property is located in Mount Olive Township, in scenic northwest New Jersey. Mount Olive Township is one of the best places to live in New Jersey. Living in Mount Olive Township offers residents a dense suburban feel combined with the convenience of markets, shopping centers with national tenants like Walmart, Lowe’s, Old Navy, Bed Bath & Beyond, and TJ Maxx, as well as plenty of parks for biking and hiking trails. Many families and young professionals live in Mount Olive Township and residents tend to lean conservative. Many residents own their homes, where the median home value is $354,300, well over the national median value of $184,700, and the median household income is about $86,773.
Mount Olive is located right off of Interstate 80 and Route 206 highway corridors, physically located 40 miles west of Manhattan and 20 miles east of the Delaware Water Gap and Pennsylvania. Mount Olive’s proximity to New York City and its ports, airports, rail service and interstate trucking networks makes it an ideal location for business. It is a regional center for healthcare, retail, education and manufacturing, as well as being one of five strategically placed Foreign Trade Zones in New Jersey.