Northbrook, IL – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased FedEx Office property located at 226 E Capitol Street in Jackson, Mississippi for $490,000.
The 1,869 square foot FedEx Office property is a relocation of a store in the downtown Jackson business district. The business district hosts one-third of the Jackson MSA office market and most of the area’s government facilities. The property is located on Capitol Street, the primary east-west thoroughfare downtown that was recently reconstructed to provide for 2-way traffic. The building was completely renovated in 2016 to accommodate the new FedEx Office.
FedEx recently executed a 10 year lease that features a 10% rental escalation in the sixth lease year and three 5-year renewal option periods. FedEx is a publicly traded company on the New York Stock Exchange (FDX), with a market capitalization of $52.5 Billion. FedEx is an investment grade company with a Standard & Poor’s rating of BBB.