FedEx Express 8923 Oil Ave 23,290 SF Industrial Building Williston, ND 58801 $5,836,032 ($250.58/SF) 6.25% Cap Rate
INVESTMENT HIGHLIGHTS
- 23,290 Square Foot Build-to-Suit Facility for FedEx Corporation in 2017
- Minimal Landlord Responsibilities as FedEx is Responsible for Taxes, Insurance and Common Area Maintenance
- FedEx Corporation is Rated BBB by Standard & Poor's -Investment Grade Tenant
- 10+ Years Remaining on an Original 15 Year Lease with 3, 5-year options to Renew
- Lease is Equipped with Rental Increases Every 5 Years and Throughout the Option Periods
- FedEx Express Serves Over 200 Countries and Territories Worldwide
EXECUTIVE SUMMARY
23,290 Square Foot Build-to-Suit Facility for FedEx Corporation in 2017
10+ Years Remaining on an Original 15 Year Lease with 3, 5-year options to Renew.
Minimal Landlord Responsibilities as FedEx is Responsible for Taxes, Insurance and Common Area Maintenance
Lease is Equipped with Rental Increases Every 5 Years and Throughout the Option Periods
FedEx Corporation is Rated BBB by Standard & Poor's -Investment Grade Tenant
FedEx's Business Model is Well Positioned to Benefit from the E-Commerce Boom
FedEx Express Serves Over 200 Countries and Territories Worldwide
Facility Boasts 9 Drive Ins, 1 Dock High and a Clear Height of 16 Feet
Strong Location in Williston with Easy Access to US-2
Adjacent to an Additional FedEx Ship Center - Subject Property was Built to Take Advantage of the Strong Growth in the Area
Located in the Heart of the Bakken Shale Oil Boom Area
10+ Years Remaining on an Original 15 Year Lease with 3, 5-year options to Renew.
Minimal Landlord Responsibilities as FedEx is Responsible for Taxes, Insurance and Common Area Maintenance
Lease is Equipped with Rental Increases Every 5 Years and Throughout the Option Periods
FedEx Corporation is Rated BBB by Standard & Poor's -Investment Grade Tenant
FedEx's Business Model is Well Positioned to Benefit from the E-Commerce Boom
FedEx Express Serves Over 200 Countries and Territories Worldwide
Facility Boasts 9 Drive Ins, 1 Dock High and a Clear Height of 16 Feet
Strong Location in Williston with Easy Access to US-2
Adjacent to an Additional FedEx Ship Center - Subject Property was Built to Take Advantage of the Strong Growth in the Area
Located in the Heart of the Bakken Shale Oil Boom Area
PROPERTY FACTS
| Price | $5,836,032 |
| Price Per SF | $250.58 |
| Sale Type | Investment |
| Cap Rate | 6.25% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | B |
| Lot Size | 5.91 AC |
| Rentable Building Area | 23,290 SF |
| No. Stories | 1 |
| Year Built | 2017 |
| Tenancy | Single |
| Parking Ratio | 3.22/1,000 SF |
| Clear Ceiling Height | 16’ |
| No. Dock-High Doors/Loading | 1 |
| No. Drive In / Grade-Level Doors | 9 |
| Zoning | Industrial - Industrial |
AMENITIES
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 01-025-00-00-04-046 | Improvements Assessment | $848,060 |
| Land Assessment | $38,700 | Total Assessment | $886,760 |
