Cove Essential Net Lease Industrial 93 DST
Clinton, OK
| Asset Class: | Industrial |
| Leverage: | 0% - All-Cash/Debt-Free |
| Location(s): | Clinton, OK |
| Minimum Investment: | $100,000 |
| Offering Type: | DST |
| 1031 Exchange Qualified: | Yes |
Property Description
Essential Net Lease Industrial 93 DST is an all-cash/debt-free industrial asset featuring a brand-new (2024) 8,026 Sq Ft distribution facility for Frito-Lay in Clinton, OK. 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. The subject property is designed to meet high-demand logistics needs, as well as having a strategic location as a product exchange center, located off Interstate 40 with easy reach to central hubs such as Oklahoma City, Tulsa, and Wichita.
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.
MSA Details
Significant commercial development is evident in Clinton, especially in areas leveraging its highway access. Recent projects highlight the growth of logistics centers and retail outlets, catering to both local residents and transient populations. These developments align with the city’s vision for urban expansion and sustainable growth. The industrial market in Clinton is characterized by its advantageous positioning along I-40, which historically supports transportation and logistics industries. With over 400,000 square feet of industrial space, the market is well-equipped to handle the demands of various industries. While the sector is evolving, Clinton is expanding its industrial base to include new bussinesses that capitalize on its strategic location and connectivity.
Property Highlights
- Brand new (2024) industrial asset, built to suit for Frito-Lay
- Single tenant industrial net lease
- 8,026 square feet on 2.89 acres
- All-cash/debt-free, zero leverage DST offering - no risk of lender foreclosure
- Essential Business - Tenant remained open and paying rent throughout the entire COVID-19 Pandemic
- Investment Grade Parent S&P Credit Rating: A+
- 721 Exchange exit strategy potential with full investor optionality
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.
