FedEx Facility in Schertz Sells in 1031 Deal
Stan Johnson Company (SJC) completed the sale of 7012 FM 3009 in Schertz, TX. Fully leased to FedEx Freight, the 101,000-square-foot mission-critical facility traded for $25.7 million.
The seller, a California-based private investor, was represented by SJC’s Mollie Alteri, Joey Odom, Mike Sladich and Maggie Holmes. Buyer S&B Detrick LP, a private investor on a 1031 exchange, was represented by Cushman & Wakefield.
“The offering presented the buyer with an opportunity to acquire a logistically significant industrial asset on a long-term lease with a strong credit tenant,” said Alteri. “The way in which we consume and move goods has changed dramatically this cycle, and recent events related to the emergence of COVID-19 have highlighted the critical importance of logistics and distribution infrastructure.”
The property sits on nearly 33 acres, and was originally constructed in 1995 as a 77,000-square-foot build-to-suit. In 2013, it was expanded to meet increasing service demands.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition