FedEx Express - Flint, MI

Asset Type

Industrial & Logistics

Address
4455 Linden Creek Pkwy Flint, MI United States 48507-2943
Asking Price

S$6,910,000

Sq Footage

57,522

Year Built

1997

Cap Rate

6.50%

Additional Attributes

Property Description

FedEx distribution and shipping center for sale, a 57,522 sq. ft. property in the Linden Creek Business Park, near Interstates 69 and 75 with direct access to Detroit. The Property is leased to Federal Express Corporation (the Tenant), a publicly traded, investment-grade delivery services company (S&P: BBB). FedEx originally leased the property in December of 1997 and has since extended the lease twice, demonstrating their long-term commitment to the location. The Property is located less than one mile from the Bishop International Airport, which hosts FedEx, and serves as a transfer facility and FedEx Shipping Center. FedEx most recently extended the lease an additional ten years in December of 2017 and has two 5-year options to extend. This investment represents an exceptional opportunity to acquire a distribution and shipping center leased to an investment grade tenant on a long-term lease.

Investment Highlights

  • Fee simple interest
  • Property is leased to the Federal Express Corporation and has been since 1997 
  • Lease was extended in 2017 for a 10-year term and has two 5-year options to extend
  • Set in Linden Creek Business Park with 1.8 million sq. ft. of warehouse distribution space that is 100% occupied
  • Current owner made property improvements prior to the most recent lease extension including new water heaters, entryways, paint and flooring
Listing Contacts
Peter Furest
Peter Furest
SVP, Capital Markets
+65 3159 4021
NY - 10401232530
Larry Emmons
Larry Emmons
Managing Director
+65 3159 4021
MI - 6502393806
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