FedEx Freight

300 Bartlett
Northborough, MA 1532

Marketing Materials

Overview

JLL is pleased to offer for sale the fee-simple interest in a corporately-guaranteed (FedEx Corp.), FedEx Freight (the “Property” or “Asset”) located in Northborough, Massachusetts. The Property is a distribution warehouse that is tenanted by FedEx Corporation (d/b/a FedEx Freight) on a NN lease with 9.7 years of lease term remaining. The Property is located in an established industrial corridor with other national tenants including Dow Chemical, SolarCity and Ken’s Foods. Strategically positioned three miles south of the Interstate 495 – Interstate 290 interchange and four miles north of the Interstate 495 – Interstate 90 interchange, the Asset benefits from its close proximity to some of Massachusetts’ busiest highways. TRANSFLO Westborough Terminal railway is also in close proximity, located approximately four miles from the Asset. The offering presents the opportunity to acquire a distribution warehouse in a strong location with an advantageous lease structure.
  • Primary Broker

    Matthew J. Berres - Net Lease Broker
    Matthew J. Berres

    +1 949 885 2933

  • Secondary Broker(s)

    Eric Suffoletto - Net Lease Broker
    Eric Suffoletto
    (617) 316-6479

  • In-State Licensee

    Frank Petz - Net Lease Broker
    Frank Petz
    MA

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Due Diligence
Investment Highlights
• The Asset's location has direct access to half a dozen major markets in Massachusetts, Connecticut, Rhode Island and New Hampshire
• Close proximity to TRANSFLO Westborough Terminal railway, a leader in trans loading bulk commodities between rail cars and trucks
• Well-positioned three miles south of the Interstate 495 – Interstate 290 interchange and four miles north of the Interstate 495 – Interstate 90 interchange
• There are 9.8 years remaining on the double-net lease, with minimal landlord responsibilities
• FedEx Corporation has investment grade tenancy with a Moody’s Credit Rating of (Baa2/Stable) and S&P Credit Rating of (BBB/Stable)
General
Property Type Industrial
Property Address 300 Bartlett
Northborough, MA 1532
Market MA-Boston
Building Size 31,521 Square Feet
Primary Use Single-Tenant Industrial
Financial
Price Confidential
Cap Rate Confidential
Current NOI $1,124,114
Lease
Tenant Name FedEx Corporation
Guarantor FedEx Corporation
Credit Rating (Moodys) Baa2
Credit Rating (S&P) BBB
Lease Type NN
Rent Escalations In option periods
Options 2, 5-year options
Lease Expiration Date 1/31/2028
Remaining Term 9.4Yrs