LAKE COMO, N.J.--(BUSINESS WIRE)--Four Springs Capital Trust (FSCT) announced today that it has acquired an 80,000 square foot industrial distribution warehouse located in Omaha, NE leased to investment grade tenant International Paper (NYSE: IP).
FSCT intends, through its Four Springs TEN31 Xchange affiliate, to create a Delaware Statutory Trust (DST) program featuring the property designed for investors participating in Section 1031 tax deferred real estate exchanges.
The industrial property sector has experienced strong growth based on a number of key drivers. E-commerce has provided the most significant recent tailwind for industrial properties, with distribution warehouses gaining significance relative to retail properties as storage and fulfillment become increasingly more important to the distribution of retail goods. Bloomberg estimates that by the year 2025, nearly 25% of all retail sales will be done online, providing continued positive growth for the industrial property sector.
Similarly, rising consumer demand for new products and the increasing complexity of global manufacturing has further increased trade in more types of goods, all of which require distribution facilities as they move throughout the supply chain. Population growth also serves as a key driver for industrial properties as warehouse space will be needed to store and distribute product to a growing consumer base.
“Mission critical industrial properties like this acquisition are a vital component of the global supply chain,” said Coby Johnson, President and Chief Operating Officer of Four Springs Capital Trust. “We are very pleased to have acquired this well-located property in a great submarket of Omaha leased on a long-term basis to a strong investment grade tenant like International Paper.”
About Four Springs Capital Trust:
Four Springs Capital Trust is an internally managed, private real estate investment trust focused on acquiring a diversified portfolio of retail, industrial/warehouse and healthcare properties net leased to investment grade and other creditworthy tenants under long-term leases.
About Four Springs TEN31 Xchange:
Four Springs TEN31 Xchange (FSXchange) is a sponsor of DST offerings featuring single tenant net-leased real estate and provides customized turnkey tax deferred exchange solutions for real estate investors.