Cove Net Lease Distribution 56 DST
|Asset Class:||Single Tenant Net Lease|
|Leverage:||0% - All-Cash/Debt-free|
|1031 Exchange Qualified:||Yes|
The Cove Net Lease Distribution 56 DST is an all-cash/debt-free, brand new 2022 construction, FedEx Ground distribution center. The property is corporately backed by FedEx Ground under a brand new 10-year lease with extension options. It is in an essential location for FedEx Ground, serving the states of Kansas, Colorado, and Nebraska. FedEx Ground is a direct beneficiary of the E-commerce boom and has remained open and paying rent during the entire COVID-19 pandemic. FedEx Ground is the fastest growing and most profitable subsidiary of FedEx Corporation.
Strong Agriculture Growth - Based upon the location of alternative FedEx Ground terminals in Kansas, Colorado and Nebraska and drive times for deliveries, the new FedEx Ground building in Colby will likely serve the following counties:
- Kansas - Cheyenne, Rawlins, Decatur, Sherman, Thomas (Colby location), Sheridan, Wallace, Logan, and Grove.
- Colorado - Yuma, Kit Carson, and Cheyenne
- Nebraska - Dundy, Hitchcock, and Red Willow
- Brand new 10-year lease
- Essential Location for FedEx Ground
- Building size: 39.168 sq. ft
- Essential Business - Tenant remained open and paying rent throughout the entire COVID-19 Pandemic
- FedEx Ground is the fastest growing and most profitable subsidiary of FedEx Corporation* (NYSE: FDX)"
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.