Scottsdale, AZ - FedEX

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, corporate signed, FedEx Ship Center investment property located in Scottsdale, Arizona (Phoenix-Mesa-Scottsdale MSA). The tenant recently renewed the lease for an additional 5 years with 2 (5-year) options to extend, demonstrating their long term commitment to the site. The lease features rare 3% annual rental increases throughout the remaining term and option periods, steadily growing NOI and hedging against inflation. The lease is corporate guaranteed and is NNN leased with minimal landlord responsibilities making it an ideal, low-management investment for a passive investor.

The asset is 100% occupied by FedEx Ship Center (S&P:BBB), and was built in 1987. The industrial property is situated on 2.79 acres of land with approximately 113 on-site parking spaces. The site is compromised of a 39,056 SF, two-story industrial building operating as a distribution center. The property is located near the signalized, hard corner intersection of E McDowell Rd and N Hayden Rd with a combined (51,000 VPD). E Mcdowell Rd, is a major retail and industrial thoroughfare serving the city of Scottsdale. The building is located within 5 miles of Phoenix Sky Harbor International Airport, making it an easy commuter location. The property is also within close proximity to downtown Phoenix, making this an ideal, centralized location with easy commute for both employees and clients. The asset is located near national/credit tenants including Walgreens, Lowe’s, Walmart Supercenter, The Home Depot, and more. The building is easily accessible State Highway 101 (259,500 VPD) and nearby numerous national/credit tenants. The 5-mile trade area is supported by more than 290,000 residents and 212,000 daytime employees with an average household income of $81,139.