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Four Springs Capital Trust Buys Oklahoma City Industrial Property Leased to Amazon

Four Springs Capital Trust, a private real estate investment trust, has purchased a 312,000-square-foot “last mile” industrial distribution facility located in Oklahoma City.

Four Springs Capital Trust, a private real estate investment trust, has purchased a 312,000-square-foot industrial distribution facility located in Oklahoma City and net leased to Amazon Services LLC. The purchase price was $44 million.

The facility was built in 2001 and renovated in 2020, which included installing a new roof when Amazon moved in on its 10-year lease. The property is a “last mile” facility serving the Oklahoma City market.

“Last mile logistics trends – referring to the final step of the delivery process from a distribution center or facility to the end-user – have further increased demand for industrial real estate as companies seek to provide same or next day delivery to consumers,” said William Dioguardi, chief executive officer of Four Springs Capital Trust. “This is an institutional quality property in a great market, leased on a long-term basis to a tenant with the leading e-commerce market position.”

Amazon.com Inc., the parent company of the tenant, has the largest industrial footprint of any occupier in the world, including 180 million square feet of space in the United States alone.

The seller, Crown Enterprises, is a private commercial real estate and development firm unaffiliated with the REIT. Cushman & Wakefield brokered the transaction.

Last month, Four Springs Capital Trust reported that it purchased, or was under contract to purchase, eight industrial properties valued at approximately $183 million. The REIT disclosed that the properties include two last-mile distribution facilities leased to “a leading e-commerce company,” and six other industrial properties including cold storage/food distribution, light manufacturing, and bulk distribution properties.

Four Springs Capital Trust owns and operates a portfolio of industrial, medical and service-oriented retail properties net leased to investment grade and other creditworthy tenants under long-term leases.

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