Net Lease Distribution 53 DST
|Asset Class:||Single Tenant Net Lease|
|Leverage||0% - All-Cash/Debt-free
|1031 Exchange Qualified:||Yes|
Cove Net Lease Distribution 53 DST is a built to suit FedEx distribution center that was built in 1997. The Tenant FedEx Express recently executed a long-term lease extension demonstrating strong commitment to the location.Corporately guaranteed by FedEx Corp. (NYSE:FDX). The property is located next door to a future 2.6 million sq ft Amazon warehouse and distribution facility with an estimated cost of $412 million. The offering is an all-cash/debt-free DST investment with no risk of a lender foreclosure.
Rochester, NY is a history-rich Erie Canal boomtown complimented by sources like Kiplinger, Fortune, and CNN Money on everything from being brainy to having an incomparable commute. It is the birthplace of Fortune 500 firms Eastman Kodak, Xerox Corp., and Bausch & Lomb. It is home to wine giant, Constellation Brands, whose CEO was named Man of the Year by Wine Enthusiast; as well as an upscale grocer, Wegmans Food Markets, consistently ranked among Fortune’s “Top 100 Companies to Work For.” Some of the country’s finest educational institutions, including eleven public high schools, ranked among the Best High Schools in America, are located in Rochester.
- Lease Guaranteed by Federal Express Corp. With a BBB rating by S&P
- Tenant Has a $37.5 Billion Dollar Market Cap
- All-Cash / Debt-Free DST
- 111,741 Square Feet
- Essential Business Tenant that Paid Rent Throughout COVID-19 Pandemic
- 100% Occupied
Source: Indication of Interest
The market information provided above may not predict the future performance of the property.
*Distribution is not guaranteed and is subject to available cash flow. For further information about cash flow distributions from operations and capital events, please refer to the offering’s Private Placement Memorandum.
All DST properties shown are subject to availability. There can be no assurance that the DST properties shown will be available.