Cove Essential Net Lease Industrial 87 DST
Sierra Vista, AZ
| Asset Class: | Single Tenant Portfolio |
| Leverage: | 0% - All-Cash/Debt-Free |
| Location(s): | Sierra Vista, AZ |
| Minimum Investment: | $100,000 |
| Offering Type: | DST |
| 1031 Exchange Qualified: | Yes |
Property Description
Essential Net Lease Industrial 87 DST is an all-cash/debt-free offering featuring a FedEx Ground. FedEx Ground is the fastest growing and most profitable subsidiary of FedEx Corporation (NYSE:FDX) that holds investment grade ratings by Standard & Poor's and Moody Investor Services with BB and Baa2 ratings respectively. The property is 26,795 square feet and is operating less than 1,000 feet from U.S. Highway 90. US-90 is the primary thoroughfare of Sierra Vista and connects this part of Arizona to Interstate 10, which connects with major markets such as Tucson, Phoenix, and El Paso.
MSA Details
Tucson is the county seat of Pima County, Arizona, and home to the University of Arizona. It is the second-largest city in Arizona behind Phoenix, with a population of 542,629 in the 2020 United States census, while the population of the entire Tucson metropolitan statistical area (MSA) is 1,043,433. Both Tucson and Phoenix anchor the Arizona Sun Corridor. The city is located 108 miles southeast of Phoenix and 60 miles north of the U.S.–Mexico border.Much of Tucson’s economic development has been centered on the development of the University of Arizona, which is the city’s largest employer. Davis-Monthan Air Force Base, on the city’s southeastern edge, also provides many jobs for Tucson residents. Its presence, as well as the presence of the U.S. Army Intelligence Center (Fort Huachuca, the largest employer in the region in nearby Sierra Vista), has led to the development of a significant number of high-tech industries, including government contractors, in the area. The city of Tucson is also a major hub for the Union Pacific Railroad’s Sunset Route that links the Los Angeles ports with the South/Southeast regions of the country.
Property Highlights
- All-Cash/Debt-Free Offering
- Strategic Logistics Location
- Minimal landlord obligations
- Early Lease Extension - FedEx Ground recently signed and early lease extension
Source: Brochure, PPM, Google Maps, CoStar
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.
