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 1995as a build to suit for FedEx, the Property consists of a 49,725-square-foot building that sits on an approximately 3.82-acre parcel. The building features (13) loading and dock-high doors and expansive parking.
Real Estate Advantage – Less than 2 Miles from On/Off Ramp to Interstate 70 – Quick Access to St Louis Lambert International Airport, Downtown St Louis – Situated on a 3.82-acre parcel, this FedEx Express distribution facility is located less than 2 miles from the on/off ramp to Interstate 70 for quick access to downtown St Louis 20 miles to the southeast and other cities beyond. Additionally, the property is strategically located just 7 miles from the St Louis Lambert International Airport, the largest and busiest airport in Missouri with over 259 peak daily departures to 74 nonstop domestic and international locations.
Successful 25 Year Operating History – Double-Net Lease with Rent Growth – Multiple Lease Extensions – 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 double-net lease features a rent increase of 7.5% in June 2022, and has (1) 5-year renewal option available, providing an investor with strong rent growth and minimal maintenance responsibilities.
Located in the City of St Louis – 2nd Largest City in State of Missouri – Diverse Economy: Manufacturing, Transportation, Tourism – Home of Washington University: Top 10 Medical School in the U.S. – The subject property is located in St Louis, a major United States port in eastern Missouri. It is the second largest city in the state of Missouri behind Kansas City, and is situated along the western bank of the Mississippi River, which forms the state line between Illinois and Missouri. Greater St. Louis is the largest metropolitan area in Missouri, second-largest in Illinois, 7th-largest in the Great Lakes Megalopolis, and the 20th-largest in the United States.