Cove Florida Industrial 98 DST
Fort Walton Beach, FL
| Asset Class: | Industrial |
| Leverage: | 0% - All-Cash/Debt-Free |
| Location(s): | Fort Walton Beach, FL |
| Minimum Investment: | $100,000 |
| Offering Type: | DST |
| 1031 Exchange Qualified: | Yes |
Property Description
Florida Industrial 98 DST is an all-cash/debt-free industrial asset featuring a newly built (2022) 9,863 Sq. Ft. distribution facility for Frito-Lay in Fort Walton Beach, FL. Frito-Lay is an American subsidiary of PepsiCo, which is ranked 46th on the Fortune 500 list, and is an essential business with the tenant remaining open and paying rent throughout the entire COVID-19 Pandemic. Strategically located city in Okaloosa County along the Florida Panhandle, offering access to key transportation routes including U.S. Highway 98 and proximity to Interstate 10. The debt free asset provides significant income potential to investors from in place lease revenue from one of the world’s iconic and recessionary resistant brands.
The offering provides investors with full optionality with its potential 721 exchange UPREIT exit strategy. This is preferred in that investors will be given the choice as to whether they want to participate in the 721 exchange or not.
Property Highlights
- All-cash/debt-free offering, no risk of lender foreclosure
- Product Exchange Center for Frito-Lay/PepsiCo as a ±9,683 square foot building on ±1.77 acres of land
- 10-year Industrial NNN lease that commenced in March 2025 featuring 2.00% annual rent increases
- Florida benefits from no state income tax offering significant financial advantages for businesses and investors
- 721 Exchange Exit Strategy with FULL Investor Optionality
- Sponsor Co-Investment - helping create an alignment of interests between the sponsor and investors in the offering
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.
