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 1992 as a build to suit for FedEx, the Property consists of a 14,600-square-foot building that sits on an approximately 2.20-acre parcel. The building features six (6) loading doors and multiple entrances.
Real Estate Advantage – Less Than 2 Miles from On/Off Ramp to Interstate 29, Sioux Gateway Airport with Direct Flights to Chicago O’Hare, Dallas Airports – Situated on a 2.20-acre parcel, this FedEx Express distribution facility is located less than 2 miles from the on/off ramp to Interstate 29 (29,500 CPD), for quick access to downtown Sioux City just seven miles to the north, and beyond to surrounding cities. Additionally, the property is strategically located just 2 miles from the Sioux Gateway Airport, which offers three flights to Chicago O’Hare and one flight to Dallas.
Successful 28 Year Operating History – Multiple Lease Extensions Reflect Commitment to Site – FedEx has been operating at this location for over 28 years and extended their lease an additional 10 years in January 2018, demonstrating their commitment to the site. Additionally, the double-net lease features (2) 5-year renewal options.
Located in Sioux City, IA – “All-America City” – Regional Hub for Business, Employment, Tourism – The subject property is located in Sioux City. Located in Northwest Iowa, Sioux City borders South Dakota and Nebraska and is a part of an area known as “Siouxland”. With a population of about 170,000, Siouxland is a culturally rich and friendly city with a variety of spoken languages, foods, festivals and traditions.
Twice named an All-America City by the National Civic League, Sioux City, Iowa serves as the regional hub for business, employment, industry, retail trade, medical care, educational opportunities and tourism in Northwest Iowa, Southeast South Dakota and Northeast Nebraska. It is also a part of the Sioux Falls-Sioux City Designated Market Area (DMA), a larger media market region that covers parts of four states and has a population of 1,043,450. The Sioux City MSA is a tri-state community with one of the strongest business climates in the nation. The metropolitan statistical area consists of Woodbury and Plymouth County, Iowa; Dakota and Dixon County, Nebraska and Union County, South Dakota. Since 1990, the population of the Sioux City MSA has grown by 8.9%, and is now estimated to be more than 165,000 people.