Fort Worth, TX – Lee & Associates, one of the largest national commercial real estate firms, has completed the $8,110,000 sale of an approximately 92,450-square-foot distribution building leased to Federal Express Corporation. Constructed in 1998 as a build-to-suit for the tenant, the building sits on an approximately 10.412-acre parcel and is located at 5601 Mark IV Pkwy in Fort Worth, Texas. The building features (11) loading doors expansive parking, and a vehicle maintenance shop with (3) drive-in bays.
FedEx has occupied 100 percent of the facility since completion of the build-to-suit construction in 1998. They have since extended the lease twice, the most recent in August 2018, extending their term another ten (10) years.
The subject property is located just a half mile from Interstate 820 at the interchange of Interstate 35W for quick access to downtown Fort Worth less than eight miles to the south. Additionally, the property is strategically located just 5 miles from the Fort Worth Meacham International Airport, which sees 1,800 flights per day and is undergoing an expansion, with new hangars and a renovated terminal and administration building.
Ryan Barr and Ryan Bennett of Lee & Associates – North San Diego County represented the Seller, Infinity nine of Fort Worth LLC, and Cushman & Wakefield represented the Buyer, a California based investor, MH Sherman Company, in the 1031 exchange. Barr and Bennett were able to achieve 96% of the asking price despite marketing the property during the height of the Covid-19 pandemic.
Barr & Bennett Net Leased Investment Group, a team within Lee & Associates-North San Diego County, specializes in the acquisition and disposition of net leased assets nationwide
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Lee & Associates is a commercial real estate brokerage, management, and appraisal services firm. Established in 1979, Lee & Associates has grown its service platform to include offices in the United States and Canada. Lee & Associates provides superior market intelligence in office, industrial, retail, investment, and appraisal to meet the specialized needs of our clients. For the latest news from Lee & Associates, visit lee-associates.com or follow us on Facebook, LinkedIn, Twitter and Link, our company blog.