FEDEX Express Facility | Last Mile Distribution Building
1701 Hawkins Blvd El Paso, TX 79925
Price: $4,100,000
Status: Sold
Cap Rate: Contact Broker
Year Built: 2000
NOI: $285,600
Lot Size: 5.40 acres
Price Per Foot: $76
Lease Type: Double-Net (NN)
Remaining Term: 7+ Years
GLA: 59425 sqft
Property Intro
Lee & Associates is pleased to exclusively offer for sale the leasehold interest (on airport) in a FedEx Express investment property located in El Paso, TX (the “Property”). Built in 2000 as a build to suit for FedEx, the Property consists of a 59,425-square-foot building that sits on an approximately 5.401-acre parcel. The building features (12) loading doors, expansive parking, and (4) entrances onto the property.
FedEx has been operating at this location for 20 years and extended the lease an additional ten years in January 2018, demonstrating their commitment to the site. The double-net (NN) lease features a 5-year renewal option at fair market rent, and based on the ideal location and history of renewals, an extension seems likely.
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 2000 as a build to suit for FedEx, the Property consists of a 59,425-square-foot building that sits on an approximately 5.401-acre parcel. The building features (12) loading doors, expansive parking, and (4) entrances onto the property.
- REAL ESTATE ADVANTAGE • LESS THAN 2 MILES FROM ON/OFF RAMP TO INTERSTATE 10 • QUICK ACCESS TO DOWNTOWN EL PASO
- Situated on a 5.401-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 adjacent to the El Paso International Airport, which is the gateway to West Texas, Southern New Mexico and Northern Mexico, providing airline passenger services to more than 2.8 million passengers per year, air cargo, and general aviation services. Additionally, the property is located just 2 miles from the on/off ramp to Interstate 10 for quick access to Downtown El Paso only 10 miles away.
- SUCCESSFUL 20-YEAR OPERATING HISTORY • MULTIPLE LEASE EXTENSIONS REFLECT COMMITMENT TO SITE
- FedEx has been operating at this location for 20 years and extended the lease an additional ten years in January 2018, demonstrating their commitment to the site. The double-net (NN) lease features a 5-year renewal option at fair market rent, and based on the ideal location and history of renewals, an extension seems likely.
- LOCATED IN EL PASO, TX • ONE OF THE LARGEST METROPLEXES IN THE WORLD • TOP 20% PERFORMING ECONOMY • HOME TO FORT BLISS: 2ND LARGEST ARMY INSTALLATION
- The subject property is located in El Paso, the largest metro area along the Texas-Mexico border. Bordering the state of New Mexico and the state of Chihuahua, Mexico, El Paso represents one of the largest international border metroplexes in the world, drawing a consumer base of more than 2.5+ million people. Currently, 1,200 construction projects are underway, including a $650 million Border Highway West extension project and a $100 million streetcar project in the city of El Paso, which will spur additional economic growth. As the sixth-largest city in Texas, and the 20th largest city in the U.S., El Paso is a top 20% U.S. performing economy and continues to experience positive economic growth by attracting new businesses and helping existing companies to grow. El Paso is home to Fort Bliss, the 2nd largest installation in the U.S. Army, covering 1.12 million acres, and home to about 70,000 soldiers and family members who call El Paso home.With a $6B expansion, the post is a sprawling mega-complex developed on East Fort Bliss, and is estimated to have an economic impact of roughly $24.1 billion, according to the state comptroller of Texas
listing agents
