Fortis Net Lease

• Double Net Lease Recently Extension
• Limited Responsibilities | 20 Year Tenant
• 10 Year Term | Two (5 Year) Options
• Two Mile Household Income $41,930
• Five Mile Population Exceeds 53,000
• Recent Major Site Improvements

Fortis Net Lease is pleased to present this 14,800 SF FedEx Freight located in Sioux City, IA. The property is encumbered with a new Ten (10) Year double net (NN)
Lease extension, leaving limited landlord responsibilities. The lease contains rent increases every five years of 3.75%. The lease contains two (5) Yr. Options to renew,
each with a rent increase. The lease is corporately guaranteed by FedEx Freight East, Inc. The landlord is responsible for maintenance and replacement of the roof
and structure, sidewalks, driveways and parking lots. The current owner recently added a large addition to the building, now offering 44 loading docks. The owner
also added new concrete paving. Warranties are in place and transferable.

This FedEx Freight property is strategically positioned in Sioux City, IA, The five mile population from the site exceeds 53,000 while the two mile median household
income is greater than $41,500 per year. The Subject offering represents an ideal opportunity for a buyer to attain the fee simple ownership of a FedEx Freight. This
investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, the world’s largest express transportation
company. List price reflects a 6.50% cap rate based on NOI of $282,912.24.