An approximately 92,450-square-foot distribution building leased to Federal Express Corporation in Fort Worth, Texas has sold for $8,110,000. Ryan Barr and Ryan Bennett of Lee & Associates – North San Diego County represented the seller, Infinity nine of Fort Worth LLC; Cushman & Wakefield represented the buyer, a California-based investor, MH Sherman Company, in the 1031 exchange.
The building sits on a 10-acre parcel and is located at 5601 Mark IV Parkway in Fort Worth. The building features 11 loading doors, expansive parking and a vehicle maintenance shop with three drive-in bays. FedEx has occupied 100 percent of the facility since completion of the build-to-suit construction in 1998. They have since extended the lease twice, the most recent in August 2018, extending their term another 10 years.
The subject property is located just a half-mile from Interstate 820 at the interchange of Interstate 35W for quick access to downtown Fort Worth less than eight miles to the south. Additionally, the property is strategically located just five miles from the Fort Worth Meacham International Airport, which sees 1,800 flights per day and is undergoing an expansion, with new hangars and a renovated terminal and administration building.