FedEx Corporation (NYSE: FDX) – Globally Recognized Tenant ($4.47B Net Worth) – Corporate Lease Guaranty – The building is leased to FedEx TechConnect, Inc. (a subsidiary of FedEx Services, Inc.), which offers technology repair, refurbishment, transportation, and logistics services to technology manufacturers and enterprises such as GE, Honeywell, and Getac. This business unit also offers critical value-add logistics services like kitting and dispositioning, alongside an unmatched portfolio of transportation options to fully enable a supply chain. The lease is guaranteed by Federal Express Corporation (Standard & Poor’s “BBB” Bond Credit Rating), the world’s largest express transportation company.
Rare 2% Annual Rent Increases – Successful Operating History – Recent Early 5-Year Renewal – FedEx has been operating at this location for 15+ years and recently executed a 5-year lease extension with 2% annual rent increases, reflecting the Tenant’s commitment to the site, and providing an investor with confidence of continued operations.
Complete $2.1M Renovation in 2006 – $2.1M Expansion in 2011 to Accommodate Repair Service Center – Unique Operational Requirements – The facility houses the FedEx TechConnect business unit. In 2006, FedEx completely renovated the building to meet the unique operational requirements. Then, in 2011, they completed a $2.1M expansion to accommodate a new repair service center and parking lot configuration with a separate entrance for walk-ins.
Real Estate Advantage – Proximity to FedEx 118-Acre World Hub Tech Campus (3,000 Employees) – Quick Access to Hwy 385 Intersect with I-269 – Just 23 Miles from Memphis International Airport, Port of Memphis – The strategic location offers proximity to FedEx World Tech Center, a 118-acre, 115,000-square-foot corporate campus consolidating 20 divisions and 3,000 IT employees on a single campus. The FedEx TechConnect center services this World Hub location and providing synergy & support for the tenant at this location. Additionally, the site is just 23 Miles from Memphis International Airport, a FedEx Hub and the second-busiest cargo airport in the world, and the Port of Memphis, the 5th-largest inland port in the nation serving more than 150 industries.
Located in Collierville – Pro-Business Environment with Highly Educated Workforce – Home to FedEx World Tech Center, Helena Chemical, Carrier Corp, Orgill and Others – The FedEx property is located in Collierville, only 28 miles from Downtown Memphis. Named one of the most desirable communities in the nation to live by Relocate-America, Collierville offers a pro-business environment with a highly educated workforce. The city is home to the FedEx World Tech Center, Carrier Corp, Helena Chemical, Orgill and others.
Memphis: 2nd-Largest City in Tennessee – Central Geographic Location at the Intersect of Major Freeways, Railroad – Leading Transportation & Logistics Hub – Regional Economic Center – Collierville is a suburb of Memphis, the 2nd-most populous city in Tennessee. Its central geographic location at the intersect of major freeways makes Memphis one of the nation’s leading commercial centers in transportation and logistics. Memphis offers a diverse and robust economy, and is the regional center for commerce, education, media, art and entertainment.