Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
SURMOUNT Facilitates $12M Net Lease Transaction of Kentucky FedEx Ground Facility
SURMOUNT, a net lease real estate advisory and investment platform, arranged the sale of an 82,754-square-foot FedEx Ground distribution facility located at 2500 Eich Road in Paducah, Kentucky.
SURMOUNT’s Rocco Driscoll and Anthony Bird represented the seller, a private investor, in the transaction. Following a nearly 17-year hold period, the seller elected to monetize the asset after strategically enhancing its value through a newly executed 10-year lease extension with FedEx Ground. The property traded at $144 per square foot.
“In this case, the client’s objective was to strategically rebalance a portion of his industrial portfolio to strengthen long-term real estate fundamentals, enhance diversification, and position the family trust for the strongest possible risk-adjusted returns for future generations,” said Rocco.
The approximately 10-acre property benefits from strategic positioning along major interstate and regional freight corridors, providing efficient access to key Midwestern and Southeastern markets including St. Louis and Nashville.
