Updated Oct 28, 2024
FedEx Leases Industrial Property In Fort Worth From PGIM Real Estate
1901 Joel East Road, Fort Worth, TX 76140
Building Size
186,577 SF
Asset Type
Industrial
Closing
Jul 13, 2020
About this deal
AI
An industrial property located at 1901 Joel East Road in Fort Worth has recently been leased. The property spans approximately 186,577 square feet, making it a sizable asset in the industrial market.
Summary of transaction details
- Property Type: Industrial
- Date: 07/13/2021
- Address: 1901 Joel East Road
- Market: Fort Worth
- Square Footage: 186,577
In this lease transaction, FedEx has become the new tenant of the industrial property. The landlord, PGIM Real Estate, represented by Eric Adler, has successfully secured a lease agreement with Frederick Smith, the representative of FedEx. This deal highlights the involvement of key individuals and companies in the Fort Worth industrial real estate market.
Fort Worth Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93