fedex ground 3400 zell miller parkway, statesboro, ga · apn 062-007-013 zoning i - industrial gla...

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I N D U S T R I A L

FEDEXGROUND

OFFERING MEMORANDUM

3400 ZELL MILLER PARKWAY I STATESBORO, GA

EXCLUSIVE LISTING AGENTS:ALEX HARROLDAssociate

DIRECT 1 310 919 5790MOBILE 1 310 977 [email protected] # 02009656 (CA)

GARY CHOUFVP & Senior Director


KYLE MATTHEWSBroker of Record

LIC # 363764 (GA)

BROKER OF RECORD

CONTENTINVESTMENT SUMMARY 6

TENANT OVERVIEW 9

PROPERTY OVERVIEW 12

MARKET & LOCATION OVERVIEW 16

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I N D U S T R I A L

INVESTMENT SUMMARY

S E C T I O N

O N E

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INVESTMENT SUMMARY

INVESTMENT HIGHLIGHTS

• Located adjacent to the 2 million sq. ft. Walmart Distribution Center, the retailer’s

largest distribution center in the world, and one of only a few strategically located

across the country

• Located within Gateway Park, a 1,000-acre industrial park, home to a

majority of Greater Statesboro’s largest employers, including Briggs

& Stratton with over 950 employees and Great Dane, employing

400; This mature industrial park offers a strategic opportunity

for manufacturing operations seeking a premiere location with

superb highway and global port access

• Statesboro’s proximity to the Port of Savannah, the 4th busiest port

in the United States according to the Georgia Ports Authority, is a great

asset to Gateway Park, while the Highway 301 interchange provides an ease-of-

use not found anywhere closer to Savannah

• Thirteen (13) drive-in doors, two (2) dock-high doors, sprinklered warehouse, 17’+/-

clear height at eaves, 1,900’+/- sq. ft. office space. Office area is air-conditioned

• Originally built in 2008, and expanded in 2014 to current size; There is room for

possible future expansion on the site, increasing the facilities capacity

6 | FEDEX | INVESTMENT SUMMARY

| MATTHEWS REAL ESTATE INVESTMENT SERVICES | 7

FEDEX GROUND 3400 Zell Miller Parkway Statesboro, GA 30458

List Price $2,400,000

Cap Rate - Current / Blended 15.36% / 10.67%

GLA ± 21,122 SF

Lot Size ± 5.00 Acres

Year Built / Expanded 2008 / 2014

Annualized Operating DataMonthly Rent Annual Rent Cap Rate

Current - 6/30/2018 $30,723.53 $368,682.36 15.36%

7/1/2018 - 8/31/2021 $18,200.00 $218,400.00 9.10%

Option 1 $17,390.84 $208,690.08 8.70%

Option 2 $18,260.42 $219,125.04 9.13%

TENANT SUMMARY

TenantFedEx Ground Package System, Inc

Square Feet ± 21,122 SF

Rent Commencement 6/18/2008

Lease Expiration 8/31/2021

Term Remaining 4+ Years

Options Two, 5-Year Options

Current Annual Rent $368,682.36

Type NN - Roof and Structure Only

Tax, Utilities & Insurance Tenant Responsible

Roof & Structure Landlord Responsible

8 | FEDEX | INVESTMENT SUMMARY


TENANT OVERVIEW

FEDEX GROUND REVENUE (FY 2016)

Revenue (in millions) $16,574

Margin 13.70%

Operating Income (in millions) $2,276

Average Daily Volume 7,526

FEDEX CORPORATIONFedEx Corporation provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce, and business services. With annual revenues of $58 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brand.FedEx Ground is a leading North American provider of ground small-package delivery services, providing service to the U.S. and Canada. FedEx Home Delivery®, the industry’s first ground service dedicated to residential delivery, is available from FedEx Ground and provides Saturday delivery for no additional charge. FedEx SmartPost® is a ground service that specializes in the consolidation and delivery of high volumes of low-weight, less time-sensitive business-to-consumer packages primarily using the U.S. Postal Service® for last mile delivery to residences. FedEx Ground business segment financial results include FedEx Supply Chain, one of the largest third-party logistics providers in North America.

FEDEX GROUNDThe Company’s FedEx Ground segment operates through FedEx Ground Package System, Inc. (FedEx Ground), which is a North American provider of small package ground delivery services. The segment provides day-certain service to any business address in the United States and Canada, as well as residential delivery to residences in the United States through its FedEx Home Delivery service. As of May 31, 2016, the FedEx Ground segment operated a multiple hub-and spoke sorting and distribution system consisting of 575 facilities, including 33 hubs, in the United States and Canada. To provide FedEx Home Delivery service and FedEx SmartPost Service, the FedEx Ground segment leverages its pickup operation and hub and line haul network. FedEx Ground provides shipment tracing and proof-of-delivery signature functionality through its Website, fedex.com.

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PROPERTY OVERVIEW

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12 | FEDEX | PROPERTY OVERVIEW

THE OFFERING

Address3400 Zell Miller ParkwayStatesboro, GA 30458

APN 062-007-013

Zoning I - Industrial

GLA ± 21,122 SF

Lot Size ± 5.00 Acres (217,800 SF)

SITE DESCRIPTION

Framing Steel

Lot Size ± 5.00 Acres

Year Built / Expanded 2008 / 2014

Parking Asphalt

Roof Standing Seam Metal

Clear Height ± 17’

Dock-High Doors 2

Drive-In Doors 13

CONSTRUCTION

MARKET & LOCATION OVERVIEW

S E C T I O N

T H R E E

3

LOCATION OVERVIEW

16 | FED EX | MARKET AND LOCATION OVER-

Located in Southeast Georgia, Statesboro is the largest city and county seat of Bulloch County. The city is best known as a college town that is home to Georgia Southern University, a Carnegie Doctoral-Research University. SAs the largest Micropolitan Statistical Area in Georgia and the largest city in the Magnolia Midlands Region, Statesboro is a regional trade center for commerce, education and health care.

With its growing economy, the City has a highly diversified economy with several major industries located in the area and is a regional shopping center and health care provider for 8 surrounding Georgia counties. This is reflected in the low unemployment rate of 3.4%. Approximately 24% of the Bulloch County labor force is employed by the government sector including the City’s largest employer, Georgia Southern University. Major private sector employers in the City include East Georgia Regional Medical Center, Walmart Super Center, and Lowe’s Home Center.

THE SWEET SPOT FOR MANUFACTURINGStatesboro-Bulloch’s industrial production is on the move, from transportation equipment to tractor engines, from textiles to food products. Bulloch County’s labor and logistical assets are second to none with sites offering strategic global value chain advantages, natural and human resources, and an aggregate of vendors and suppliers.

The area’s Southeastern location boasts logistical superiority; Recognized by Walmart, Statesboro is home to the largest Walmart distribution center in the world. Statesboro’s sites position business operations at a strategic intersection with sweeping pan-directional highway access and easy access to the Port of Savannah at just 40 minutes away. Now serviced by the Maersk and APL lines, Port of Savannah opens markets across the globe.

• Prime industrial sites and acreage offering easy interstate and port access

• Gateway Industrial Park is home to Walmart’s largest distribution center

• Airport Industrial Park features exclusive runways of 6,000 and 4,381 feet

16 | FEDEX | MARKET AND LOCATION OVERVIEW


19.3%JOB GROWTH RATE

+77,000COUNTY POPULATION


$35,840MEDIAN INCOME

18 | FEDEX | MARKET AND LOCATION OVERVIEW

GATEWAY REGIONAL INDUSTRIAL PARK I & IIHome to the 2 million sq. ft. Walmart Distribution Center, the retailer’s largest distribution center in the world, Gateway Parks sprawls over nearly 1,000 acres. It’s where industrial leaders like Briggs & Stratton and Great Dane are revved up and rolling out industry-leading products. Located on US 301 South, with customer-choice electric power on site, as well as city water, sewer and natural gas, these mature parks offer a strategic opportunity for manufacturing operations seeking a premiere location with superb highway and global port access.

PERIMETER CENTER PARKAlso located on Highway 301 South, adjacent to Ogeechee Technical College, this intelligently designed office park provides an environment conducive to productivity for smaller commercial tenants, with water, sewer, and natural gas provided by the city.

AIRPORT INDUSTRIAL PARKAdjacent to the Statesboro-Bulloch County Airport and its two runways (a 6,000 ft. runway and a 4,381 ft. runway), and less than 30 minutes from Gulfstream Aerospace manufacturing operations, Statesboro-Bulloch’s Airport Industrial Park is a particularly strategic location for suppliers throughout the Gulfstream supply chain.

PROPERTY DEMOGRAPHICS1-Mile 3-Mile 5-Mile

2022 Projection 466 5,379 32,385

2017 Estimate 462 5,280 30,942

Growth 2017 - 2022 0.43% 1.79% 6.06%

Growth 2010 - 2017 0.87% 1.88% 4.66%

HOUSEHOLDS1-Mile 3-Mile 5-Mile

2022 Projection 183 2,053 10,793

2017 Estimate 180 2,015 10,436

Growth 2017 - 2022 1.67% 1.89% 3.42%

Growth 2010 - 2017 2.27% 1.77% 3.50%

INCOME 1-Mile 3-Mile 5-Mile

2017 Est. Average Household Income

$51,071.00 $64,718.00 $42,450.00

2017 Est. Median Household Income

$34,573.90 $46,585.47 $25,192.71

Walmart Distribution Center

Zell Mille

r Parkway


KJM Custom Components

Briggs & Stratton Corporation

Viracon

Subject Property

NEIGHBORING INDUSTRIAL TENANTS

This Offering Memorandum contains select information pertaining to the business and affairs of the FedEx Ground located at 3400 Zell Miller Parkway, Statesboro, GA 30458 (“Property”). It has been prepared by Matthews Real Estate Investment Services. This Offering Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Matthews Real Estate Investment Services. The material is based in part upon information supplied by the Seller and in part upon financial information obtained from sources it deems reliable. Owner, nor their officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness of this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence.

By acknowledging your receipt of this Offering Memorandum for the Property, you agree:

The Offering Memorandum and its contents are confidential;

You will hold it and treat it in the strictest of confidence; and

You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any fashion or manner detrimental to the interest of the Seller.

Owner and Matthews Real Estate Investment Services expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed and delivered.

If you wish not to pursue negotiations leading to the acquisition of the Property or in the future you discontinue such negotiations, then you agree to purge all materials relating to this Property including this Offering Memorandum.

A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Seller or Matthews Real Estate Investment Services or any of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property.

This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no change in the state of affairs of the Property since the date this Offering Memorandum.

CONFIDENTIALITY & DISCLAIMER STATEMENT

EXCLUSIVE LISTING AGENTS:

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I N D U S T R I A L

ALEX HARROLDAssociate


GARY CHOUFVP & Senior Director


FEDEXGROUND

3400 ZELL MILLER PARKWAY I STATESBORO, GA

fedex ground 3400 zell miller parkway, statesboro, ga · apn 062-007-013 zoning i - industrial gla...

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