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6657 Oak Grove Rd, Fort Wor...

FedEx Ground Package Service Leases Industrial Asset In Fort Worth
LEASEDIndustrial

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:

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

Matt Carthey

Holt Lunsford Commercial

Broker

27 deals

Broker
PGIM
PGIM Landlord

Fort Worth Industrial Market Snapshot

Boundary boundary · Industrial · Lease transactions

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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