FedEx Ground Package Service Leases Industrial Asset In Fort Worth
6657 Oak Grove Rd, Fort Worth, TX, 7...
Building Size
186,577 SF
Asset Type
Industrial
Closing
Nov 20, 2023
AI
The industrial lease at 6657 Oak Grove Rd in Fort Worth, Texas spans 186,577 square feet. Carter Distribution Center, constructed in 2018, offers 32-foot clear heights and an ESFR sprinkler system, strategically located on the city’s south side near Interstates 20 and 35.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not provided
- Landlord: PGIM Inc
- Tenant: FedEx Ground Package Service
- Landlord's Representatives: Matt Carthey (Holt Lunsford Commercial), Thomas Grafton (Holt Lunsford Commercial)
- Tenant's Representative: Curt Star (Fischer & Co.)
FedEx Ground Package Service secured the industrial lease at the Carter Distribution Center in Fort Worth, with representation from Curt Star of Fischer & Co. Matt Carthey and Thomas Grafton of Holt Lunsford Commercial acted as the landlord's representatives for PGIM Inc in the lease negotiations.
Players
Fort Worth Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
Loading comparables…
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