Updated Aug 10, 2026
Raj Subramaniam Of FedEx Acquires Industrial Warehouse From Rick Stone For $94 Million In South San Francisco
405 Victory Avenue
$94,000,000
$445/SF
Building Size
211,259 SF
Asset Type
Industrial
Closing
Aug 5, 2026
About this deal
AI
FedEx Corp. has acquired a warehouse located at 405 Victory Avenue in South San Francisco, CA. The transaction involved an amount of $94 million for the industrial asset, which boasts a total area of 211,259 square feet. The price per square foot for this transaction is calculated at $445.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $94,000,000
- Address: 405 Victory Avenue
- Market: South San Francisco, CA
- Square Footage: 211,259
- Price Per Square Foot: $445
- Buyer: Raj Subramaniam - FedEx
- Seller: Rick Stone - Sagard Real Estate
Raj Subramaniam represented FedEx in the acquisition of this facility, while Rick Stone represented Sagard Real Estate as the seller. This purchase solidifies FedEx's operational presence near San Francisco International Airport, responding to the tightening industrial vacancy in the Peninsula area.
On the Map
$94,000,000
$445/SF
Industrial
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Players
Clements Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93