FedEx Ground | Lansing MI
Industrial
INVESTMENT GRADE CREDIT | FORTUNE 50 | PUBLICLY TRADED COMPANY
FedEx Corporation (NYSE: FDX) is a global logistics provider founded in 1971 and is headquartered in Memphis, Tennessee with 447,000 employees. The company is the parent to several service lines, including: FedEx Express, FedEx Freight, FedEx Ground and FedEx Services. FDX holds an investment grade credit rating of BBB with Standard & Poor’s and currently resides at #45 on the Fortune 500 list. As of May 2021, FedEx has annual revenues of $84BB, a net income of $5.2BB and a tangible net worth of $24BB.
NEW 10 YEAR LEASE EXTENSION | PARKING LOT AND YARD EXPANSION
Property was a build to suit for the tenant in 2013. Recently, tenant signed a new 10-year lease extension with the new expiration being September 2032 leaving over 10 years remaining on the primary lease term. Additionally, there are two (2), five (5) year options to extend with rental increases; 10% in option 1 and 5% in option 2. The Property is currently undergoing an employee parking lot expansion and a significant yard expansion scheduled to be completed in October.
MICHIGAN STATE CAPITOL | STRONG AND STRATEGIC LOGISTICS MARKET | QUICK ACCESS TO MAJOR POPULATION CENTERS
Property is located in state capitol city of Lansing with an MSA population of almost 550,000, which is a 16% increase from the population in 2010. The Property is very well located in the western industrial sub-market of Lansing with immediate access to the intersection of Interstate 69 and Interstate 496. With easy access to interstates and the central Michigan location, Lansing is a strategic logistics hub that can reach 40MM people within 250 miles. Central Michigan is also 500 miles from nearly half of the United States population. Lansing is only a 90-mile drive from the Ambassador Bridge in Detroit, which is the most active border crossing in North America. 25% of the $700 billion annual trade with Canada passes over the Ambassador Bridge.
PREMIER INDUSTRIAL AREA OF WEST LANSING | NEW GM ASSEMBLY PLANT LESS THAN 1-MILE AWAY
Within the immediate industrial submarket, and within a 1-mile radius, there are many notable tenants occupying industrial space, including: Amazon, Ryder, Meijer, and General Motors. General Motors has its newest United States plant, a 3.4 million square foot assembly plant, directly across Interstate 96 from the Property – the GM Lansing Delta Township Assembly Plant. GM assembles the Buick Enclave and Chevrolet Traverse at this plant. In addition, several miles away on Interstate 496, GM has another assembly plant, the Grand River Assembly Plant, that assembles several Cadillac models and the Chevrolet Camaro.
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The information contained herein has been obtained from sources deemed reliable or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice.