Cove Net Lease Distribution 44 DST
|Asset Class:||Single Tenant Net Lease|
|Leverage:||0% - All-Cash/Debt-free|
|1031 Exchange Qualified:||Yes|
Cove Net Lease Distribution 44 DST is a 40,595 sq ft FedEx Ground facility situated on 9.21 acres in the Intraplex Industrial Park of Gulfport, MS. The tenant has 15 years of operating history with the property and recently executed a 6-year renewal – with 5 years remaining on the base lease term – demonstrating a strong commitment to the site.
This property is in a mission critical location in Gulfport Mississippi. FedEx has direct access to I-10, is less than 6 miles from the Gulfport-Biloxi International Airport (10-minute drive) and 10 miles away from Gulfport harbor (20-min drive).
Gulfport is in the county of Harrison and is the second-largest city in Mississippi after the state capital, Jackson. Strategically located at the center of the northern Gulf of Mexico nestled right along Interstate 10, Gulfport, MS provides industry access to more than half of the nation’s population within a day’s drive. Gulfport is strategically located near multiple intermodal transportation options, the Naval Construction Battalion Center , and part of the Mississippi Coast Foreign Trade Zone #92, an area of 5,000 acres of secured sites of airports, ports, and industrial parks located within the Mississippi counties of Hancock, Harrison. The Oasis Resort and the newly built Mississippi Aquarium are locations as well. This area in the north central part of the Gulf of Mexico is at the heartbeat of the multi-modal transportation center of the entire Southern United States.
- A FedEx Ground facility built in 2006; 40,595 SF situated on 9.21 acres
- In a mission critical location in Gulfport Mississippi
- 11 Dock Doors, 8 drive doors, steel masonry construction overview
- Essential Business Tenant that Paid Rent Throughout COVID-19 Pandemic
- Tenant FedEx recently executed a 6-year renewal
- 15 years operating history at a mission critical location with over 5 years remaining on the base-term
- The GBP market is home to the largest employer in the state of Mississippi: Ingalls Shipbuilding, as well as the largest Chevron refinery in the world. This is a highly sought-after industrial market that has proven to be a fantastic location for FedEx
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.