PROPERTY SPANS 408,592 SQ. FT. OF LAND (9.38 ACRES) THIS PROPERTY CONSISTS OF A FULLY RENOVATED "FORMER CONSOLIDATED FREIGHT TERMINAL" LEASED TO FEDEX FREIGHT WEST, INC. FEDEX FREIGHT OPERATIONS INCLUDE SHIPPING OF FREIGHT WEIGHTING FROM 151 LBS. TO 2,200 LBS. FEDEX EXPRESS FREIGHT PROVIDES 100% COVERAGE TO ANY U.S. LOCATION AND INTERNATIONAL EXPRESS FREIGHT OFFERS PRIORITY SERVICE TO 50 COUNTRIES IN ONE TO THREE BUSINESS DAYS. THE LEASE CONTAINS ANNUAL CPI RENT ADJUSTMENTS WITH A 3% MAXIMUM EACH AND EVERY YEAR OF THE LEASE TERM AND OPTION TERMS IF EXERCISED (3 FIVE YEAR OPTIONS TO EXTEND). THE LEASE COMMENCED JUNE 2005 AND EXPIRES DECEMBER 2020 AND IS GUARANTEED BY FEDEX CORP. A VERY BONDABLE CREDIT TENANT. THE PROPERTY SPANS 408,592 SQ. FT. OF LAND (9.38 ACRES) WITH 54,560 SQ/FT OF STURCTURE - $1.5 MILLION FULL RENOVATION BY FEDEX. CONSISTS OF A 30,528 SQ/FT CROSS DOCK WITH 74 LOADING DOORS, 20,000 SQ/FT SERVICE SHOP AREA & 4,000 SQ/FT OFFICE STRUCTURE. TENANT PAYS ALL OPERATING EXPENSES, INCLUDING EARTHQUAKE INSURANCE AND ANY MAINTENANCE OF THE UNDERGROUND UTILITIES, BUILDING SLAB AND STRUCTURAL *THE ADJACENT 9 ACRE PARCEL AT 2201 E. WASHINGTON SOLD ON 4/5/04 FOR $57 MILLION. SEE ATTACHED COSTAR COM
THIS SITE SERVES AS THE PRIMARY DISTRIBUTION FACILITY FEDEX FREIGHT WEST, INC. FOR SOUTHERN CALIFORNIA. LOCATED ON WASHINGTON BLVD. BETWEEN ALAMEDA STREET AND SANTA FE AVENUE IN THE CORE OF THE CENTRAL LOS ANGELES INDUSTRIAL DISTRICT. IMMEDIATE #10 FREEWAY ACCESS & CLOSE TO DOWNTOWN FREEWAYS. ADJACENT TO CONWAY FREIGHT & VEOLIA TRANSPORTATION & BUDGET TRUCK RENTAL IN THE HEART OF THE DOWNTOWN LOGISTICS CORRIDOR.
