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US-41 & Buckeye Rd., Palmetto, FL 34221
123,367 SF | Industrial
Industrial Property - Off Market
- Building Size:
- 123,367 SF
- Property Type:
- Property Sub-type:
- Distribution Warehouse
- Property Use Type:
- Net Lease Investment with
- 10+ years left on lease
- Cap Rate:
- Year Built:
- Lot Size:
- 16.47 AC
- Listing ID
- Last Updated
- over 1 year ago
- New 10-Year Net Lease - Anticipated Feb. 2009 Commencement
- Located on US-41 near I-75 and I-275
- Across from Port Manatee
- Possible Cash-on-Cash Yield: 8.78%
The property is leased to FedEx Ground Packaging Systems, Inc.
FedEx Ground is the second-largest of four business segments within FedEx Corporation. Ground handles small package ground delivery, small parcel consolidation, and contract logistics. The FedEx 2008 annual report indicates that the FedEx Ground segment had revenues of $6.751 billion, up 12.5% over the previous year. The Operating Income was $738 million.
FedEx Corporation provides customers and businesses worldwide with the broadest portfolio of transportation, e-commerce and business services. With annual revenues of $25 billion, the Company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brands. FedEx Ground is North America's second-largest provider of business-to-business ground small-package delivery. FedEx Ground has a network of more than 500 distribution hubs and local pickup-and-delivery terminals throughout the United States and Canada. On average, FedEx Ground ships 3126 packages per day.
The subject FedEx facility is located within the Port Manatee Industrial Park, a 138-acre park adjacent to Port Manatee. The property is situated directly on US Highway 41, which provides easy access to I-75 and I-275 within minutes. The property is located directly south of Manatee Airport. Businesses at Port Manatee and the surrounding area include Del Monte Fresh Produce Co., Port Manatee Ship Repair, Kleensoil International and Ajax Paving Industries. This FedEx facility will serve as a relief point for FedEx's Tampa center on Florida Mining Road.
Map of US-41 & Buckeye Rd., Palmetto, FL 34221 (Manatee County)
Research for US-41 & Buckeye Rd., Palmetto, FL 34221 (Manatee County)
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The information above has
been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified
it and make no guarantee, warranty or representation about it. It is your responsibility to independently
confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are
for example only and do not represent the current or future performance of the property. The value of
this transaction to you depends on tax and other factors which should be evaluated by your tax, financial,
and legal advisors. You and your advisors should conduct a careful, independent investigation of the
property to determine to your satisfaction the suitability of the property for your needs. TB-P