TAMPA, FL -– CB Richard Ellis, Inc. (CBRE) has been selected as exclusive marketing advisor for the sale of two Class "A" regional FedEx Ground distribution centers located in Bradenton (top right photo) and West Palm Beach, (bottom left photo) which were built to suit the specifications of FedEx Ground, an operating company and wholly owned subsidiary of FedEx Corporation (NYSE: FDX).The CBRE Investment Properties Group team of Dale Peterson, Senior Vice President and Paul W. Carr, Associate, out of the Tampa office is collaborating with Senior Vice Presidents Jeff Kelly and Robert Smith in the West Palm Beach office to represent the owner in the disposition of the 220,664-square-foot portfolio. The properties are being marketed for purchase individually or as portfolio.
"With the challenges we face in today's capital markets environment, investors have the ability to be very selective in choosing where to place their equity, which is resulting in a flight to quality," says Paul Carr, "This is an excellent investment opportunity for investors seeking a long-term high quality, low risk net leased investment."
Both buildings have long-term net leases in place, guaranteed by FedEx Ground. Located in Bradenton (123,367 sq. ft.) and in West Palm Beach (97,297 sq. ft.), the facilities have expansion potential for over 48,500 and 21,000 square feet, respectively. The Bradenton location is still under construction, to be delivered in January 2009, and the West Palm location was recently completed in 2007.
Contact:
Lauren Crawford, Communications Specialist, 813 273 8482
Lauren Crawford, Communications Specialist, 813 273 8482
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