Kingsbarn Realty Capital announced the acquisition of a FedEx Ground Distribution Center in the Toledo suburb of Bowling Green, Ohio.
The property was built-to-suit for FedEx Ground, which Kingsbarn says has leased the property for 15 years. The 250,000 square feet industrial facility sits on a 49.3-acre parcel and the building has 73 truck-docks and 10 grade-level overhead doors with a 120-foot truck court.
Kingsbarn says the company will offer the property for investment in a Delaware statutory trust structure, thereby making the fractional interests eligible as a 1031-exchange replacement property.
“This acquisition is ideal for our Delaware statutory trust program,” said Kingsbarn chief executive officer Jeff Pori. “Investors are looking for industrial properties and also high-quality tenants during these turbulent times. The parent company for FedEx Ground is an exceptional global company with revenues over $93 billion and an S&P rating of ‘BBB’ stable.”
Kingsbarn Realty Capital offers investments is private equity, exchange traded funds, traditional investment funds, private placements and Delaware statutory trusts. Kingsbarn’s management team has experience developing, managing, operating and sponsoring a portfolio of stabilized properties as well as ground-up construction, value-added offerings, opportunity zone investments and entitlement projects. Kingsbarn has more than $1.5 billion of assets under management throughout the United States.
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