ee epress corporto - loopnet...cushman & wakefield’s net lease group is pleased to offer for...

DOUGLAS LONGYEAR, SIOR

+1 415 677 0458

[email protected]

CA Lic #00829911

BROOKS PEDDER, SIOR

+1 925 627 2480

[email protected]

CA Lic#00902154

SCOTT BERTRAND

+1 925 627 2885

[email protected]

CA Lic#01859508

E X E C U T I V E S U M M A R Y

FEDEX EXPRESS CORPORATION1 1 5 C E N T E R A V E , P A C H E C O , C A

680

SUBJECT PROPERTY

Cushman & Wakefield’s Net Lease Group is pleased to offer for sale the 70,610 sq. ft. FedEx Express Distribution Building on a 3.659 acre site located at 115 Center Avenue, Pacheco, California, which is a small unincorporated area between Concord and Martinez in North Contra Costa County.

$17,100,000 Price

New 16 Year Lease Term

Multiple Rent Increases

Rent at Market Rate

This offering is a rare opportunity to acquire an industrial property located in the dynamic Bay Area and leased long term at a market rent to Federal Express Corporation.

EXECUTIVE SUMMARYFedEx Property History

• FedEx BTS constructed in 1985• FedEx requested a building expansion in 1990

FedEx Lease• Favorable Maintenance clause

FedEx Express Credit • World’s largest express transportation

company• FedEx Express has its own S&P BBB bond rating• Largest subsidiary of FedEx Corporation (NYSE:

FDX)

eCommerce• eCommerce’s share of total retail sales in the

U.S. is approximately 9%• eCommerce’s share is expected to grow to

25%-30%• FedEx is one of the leading shippers of Internet

related purchases

Real Estate Advantages• Easy access to I-680• Infill location close to high income residential,

industrial and commercial areas• Rare large building in local submarket ideal for

“last mile eCommerce” use.

Fundamentals• FedEx Express paid for an expensive material

handling system.• The FedEx rent is at current market rent and

below a build-to-suit rent

KEY INVESTMENT CONSIDERATIONS

SUBJECT PROPERTY

FEDEX EXPRESS CORPORATION

The Tenant’s Parent Company - FedEx Corporation

FedEx Corporation, a Delaware corporation (NYSE: FDX), provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. The company offers integrated business solutions through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. FedEx has more than 425,000 employees and is consistently ranked among the world's most admired and trusted employers.

FedEx Corporation does not guaranty the lease.

Total Assets (FY 2018)

$53 BillionShareholder’s Equity

$19 BillionRevenues

$65 BillionNet Income

$4.57 BillionS&P Bond Rating

BBB

The Tenant: Federal Express Corporation

• The world’s largest express transportation company.• FedEx Express delivers approximately 6 million shipments

and 29 million pounds of freight each business day.

Federal Express Corporation, a Delaware corporation (“FedEx Express”), invented express transportation and remains the industry’s global leader, providing rapid, reliable, time-definite delivery to more than 220 countries and territories, connecting markets that comprise more than 99 percent of the world’s gross domestic product. FedEx Express has unmatched air route authorities, transportation infrastructure and leading-edge information technologies.

Revenues (FY 2018)

$36 Billion Operating Income

$2.10 BillionFedEx Express Fleet

390 Jets285 Airplanes87,800 Trucks

S&P Bond Rating

BBB

238

237

4

33

120

4

26

88

99

1 92

84

84

4

24

4

37

116

12

85

82

87

82

17

99

120

132

99

33

165

29121

113

113

160

84

99

16

99

88

17

152

128

128

116

12

12

12

1

5

5

5

5

5

5

5

80

80

80

80

80

280

280

280

580

580580

580

680

680

680

680

780

880

880

880

505

505

205

50

50

101

101

101

101

101

101

101

LIVERMORE

MODESTO

BRENTWOOD

MANTECA

CONCORDPLEASANT

HILL

EMERYVILLE

EL CERRITOLARKSPUR

MILL VALLEY

SAUSALITO

DALYCITY

SANMATEO FOSTER

CITY

SOUTHSAN

FRANCISCO

SAN PABLO

HERCULES

SAN LEANDRO

DANVELLE

DUBLIN

PLEASANTON

SARATOGA

CUPERTINO

MILPITAS

LATHROP

DISCOVERY BAY

RIO VISTA

LODI

SUNOL

NEWARK

UNION CITY

REDWOOD CITY

LOSALTOSHILLS

SANTACLARA

MENLO PARK

ALAMO

ALAMEDA

CASTROVALLEY

BAY POINT PITTSBURG

ELK GROVE

FAIRFIELD

VACAVILLE

DAVIS

PETALUMA

NOVATO

BENICIA

VALLEJO

AMERICAN CANYON

MARTINEZ

ORINDALAFAYETTE

MORAGA

ROSEVILLE

CITRUS HEIGHTS

RANCHOCORDOVA

FOLSOMEL DORADO

HILLS

THORNTON

DIXON

WOODLAND

MARE ISLAND

SEARSPOINT

SONOMA

BIG BEND

FREMONT

SUNNYVALE

PALOALTO

MOUNTAINVIEW

OAKLANDSAN

FRANCISCO

WALNUT CREEK

SAN RAMON

RICHMONDSAN RAFAEL

BERKELEY

HAYWARD

ANTIOCHOAKLEY

TRACY

STOCKTON

SACRAMENTO

SAN JOSE

PACIFICOCEAN

SANFRANCISCO

BAY

SUISUNBAYSAN

PABLOBAY

NAPA

SANTACRUZ

2

3

5

12

8

1

4

6

7

9

11

10

TERMINAL SQ. FT.

115 Center AvenuePacheco, CA 94533 70,610

1. 1637 Francisco Boulevard EastSan Rafael, CA 94901 28,000

2. 1875 Main StreetSan Francisco, CA 94124 108,793

3. 900 Gateway BoulevardSouth San Francisco, CA 94080 106,057

4. 3750 Haven AvenueMenlo Park, CA 94025 69,500

5. 1286 Lawrence Station RoadSunnyvale, CA 94089 50,791

6. 710 Dado StreetSan Jose, CA 95131 106,057

7. 1600 3rd StreetEmeryville, CA 94608 37,500

8. 9190 Edes AvenueOakland, CA 94603 232,068

9. 8455 Pardee DriveOakland, CA 94621 33,411

10. 7275 Johnson DrivePleasanton, CA 94588 98,030

11. 11140 Sun Center DriveRancho Cordova, CA 95670 43,000

12. 935 Performance DriveStockton, CA 95206 60,710

FEDEX EXPRESS NETWORK MAP

HEADER

FedEx Express | Concord, CA | vCENTER AVENUE

7 0 , 6 1 0 ± S F

SITE PLAN

HEADER

FedEx Express | Concord, CA | viFedEx Express | Concord, CA | 13

680

680

PACHECO

PLEASANT HILL

LAFAYETTE

MORAGA ORINDA

MARTINEZ

CENTER AVENUE

CONCORD AVENUE

WALNUT CREEKALAMO

SAN JOSE

SW

BUCHANAN FIELD AIRPORT (CONCORD)

HEADER

FedEx Express | Concord, CA | viiFedEx Express | Concord, CA | 15


PACHECO

SHELL REFINERY

VALLERO REFINERY

BENICIA INDUSTRIAL PARK

MARTINEZ

BENICIA

MARE ISLANDVALLEJO

CONCORD

PITTSBURGANTIOCH

4

680

680

680780

CENTER AVENUE

CONTRA COSTA BOULEVARD

CONCORD BOULEVARD

CHILPANCINGO PARKWAY

PACHECO BO

ULE

VA

RD

NW

FREEWAY ACCESS POINTS

FREEWAY ACCESS POINT

FREEWAY ACCESS POINT

PITTSBURGANTIOCH

FAIRFIELD VACAVILLE

SACRAMENTO

ee epress corporto - loopnet...cushman & wakefield’s net lease group is pleased to offer for...

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