FedEx Corporation (NYSE: FDX) – Globally Recognized Tenant ($4.57B 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 2018, FedEx reported revenues of over $65 billion and an approximate net worth of $4.57B.
Early 5-Year Lease Extension – Successful 21+ Year Operating History – No Option Periods Allows LL to Negotiate Fresh 10-Year Lease at FMV Rent – FedEx has been operating at this location for over 21 years and has demonstrated their commitment by extending their lease early for an additional 5 years. There are currently more than 5 years remaining on the double-net lease. Currently there are no option periods in the lease which ideally allows for Landlord to negotiate a new 10 year term at fair market rent.
Extensive Loading Capability (108 Dock Doors) & Ample Truck Parking/Storage – Built in 1998 and renovated in 2005, the Property consists of a 57,291-square-foot building that sits on an approximately 12.82-acre parcel. The building features (108) dock doors, 87 parking spaces for customers/employees, 123 trailer spaces, and a stand-alone vehicle maintenance shop with (3) drive-in bays.
Real Estate Advantage – Less Than 1 Mile from Regional Airport – Only 3 Miles from Interstate 55 On/Off Ramp – Situated on a large 12.82-acre fenced parcel, this FedEx distribution facility is located along Gil Harbin Industrial Blvd near the intersection of Old Clyattville Rd (7,900 CPD), just over one mile from the Valdosta Regional Airport, offering three runways, two of which are used by commercial aircraft for flights to and from the Atlanta Hartsfield-Jackson International Airport (ATL). Additionally, the FedEx is situated less than 3 miles from the on/off ramp to Interstate 75 (51,000 CPD), for access to major cities such as Jacksonville 120 miles to the south, and Atlanta 230 miles to the north.
Located in the City of Valdosta: County Seat of Lowndes County – Thriving Community – Balanced Economy with Highly Trained Workforce – The subject property is located in Valdosta, a city in and the county seat of Lowndes County, located on the southern border of Georgia. Nicknamed the “Azalea City,” Valdosta has also been named ESPN’s Title Town, home to college sports. The city was settled in 1860 as a stop along the railroad and continues to be a popular destination for travelers on I-75. Valdosta is about a two-hour or less drive from Tallahassee, Macon, and Jacksonville, three hours from Orlando and Atlanta. Valdosta is one of Georgia’s fastest developing cities, with its population growing nearly 40 percent since the early 1990s, and it is the principal city of the Valdosta Metropolitan Statistical Area, which has a population of 144,000 (2017).
Valdosta-Lowndes is a thriving community with an economy balanced for growth, where wages are increasing at a healthy pace, yet costs of living and business remain competitively low. Ideally located midway between Atlanta and Orlando in the heart of South Georgia, Valdosta-Lowndes County is strategically positioned for businesses to access and serve the global economy. Additionally, Valdosta is home to a highly trained workforce benefiting from access to higher education institutions Valdosta State University, Wiregrass Georgia Technical College, Georgia Military College, and Embry-Riddle Aeronautical University and Park University campuses located on Moody Air Force Base.