LAKE COMO, N.J.--(BUSINESS WIRE)--Four Springs Capital Trust (FSCT) announced today the acquisition of an industrial distribution facility located in Oklahoma City, OK that is net leased on a long-term basis to Amazon Services, LLC.
The property is a 312,000 square foot “last mile” distribution facility located in a strong industrial submarket of Oklahoma City. Amazon.com, Inc., the parent company of the tenant, has the largest industrial footprint of any occupier in the world, including 180 million square feet of space in the United States alone. Amazon is at the forefront of new building and floorplan concepts, and while the majority of the company’s footprint falls under large fulfillment centers, the company continues to put emphasis on last mile delivery.
“Last mile logistics trends – referring to the final step of the delivery process from a distribution center or facility to the end-user – have further increased demand for industrial real estate as companies seek to provide same or next day delivery to consumers,” said William Dioguardi, Chief Executive Officer of Four Springs Capital Trust. “This is an institutional quality property in a great market, leased on a long-term basis to a tenant with the leading e-commerce market position.”
The property seller was Crown Enterprises, a private commercial real estate and development firm, and the transaction was brokered by Cushman & Wakefield.
“Four Springs was a great partner to work with on this sale,” said John Nix, Portfolio Manager at Crown Enterprises.
Robby Rieke, Managing Director of the Industrial Advisory Group at Cushman & Wakefield added, “Well located industrial properties with strong tenants like Amazon remain in strong demand. We were pleased to help facilitate this property sale.”
About Four Springs Capital Trust:
Four Springs Capital Trust is a private real estate investment trust that owns and operates a diversified portfolio of industrial, medical and service-oriented retail properties net leased to investment grade and other creditworthy tenants under long-term leases.