FEDEX Express Distribution Facility | Central Northeast Location
675 Clark Dr, Budd Lake, Mount Olive Township NJ 07828
Price: $4,100,000
Status: Sold
Cap Rate: Contact Broker
Year Built: 1993
NOI: $248,386
Lot Size: 7.60 acres
Price Per Foot: $111
Lease Type: Double-Net (NN)
Remaining Term: 3+ Years
GLA: 36789 sqft
Property Intro
Lee & Associates is pleased to exclusively offer for sale the fee simple interest (land & building) in a FedEx Express investment property located in Budd Lake in Mount Olive Township, NJ (the “Property”). 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.
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.
investment highlights
- FEDEX CORPORATION (NYSE: FDX) • GLOBALLY RECOGNIZED TENANT ($4.57B NET WORTH) • S&P “BBB” BOND INVESTMENT GRADE CREDIT RATING • 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 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
- 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 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, offering residents a dense suburban feel combined with the convenience of markets and plenty of parks for biking and hiking trails. Many families and young professionals live in Mount Olive Township. It is a regional center for healthcare, retail, education, and manufacturing, and its proximity to New York City and its ports, airports, rail service and interstate trucking networks makes it an ideal location for business.
listing agents
