Frito Lay Last Mile Distribution Center - Marion, SC_Property for Sale
Frito Lay Last Mile Distribution Center - Marion, SC_Property for Sale
1710 Wellman Rd, Marion, SC, 29571, US

Frito Lay Last Mile Distribution Center - Marion, SC

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale the fee simple interest in the newly constructed Frito-Lay Last-Mile Distribution Facility located at 1710 Wellman Rd , Marion, South Carolina (the “Property”).


Comprising 5,967 square feet situated on 2.92 acres, the site has been strategically selected and purpose-built for Frito-Lay to operate a last-mile distribution facility as part of their national distribution network. Frito-Lay identified a weakness in its distribution network and this build-to-suit facility will improve operations covering its customer base throughout eastern South Carolina.


The Property is part of Frito-Lay’s new strategy to expand its distribution efficiencies across the country and improve inventory stocking levels by moving closer to the end customer via new product exchange centers. In sum, the Property will serve as a hub where large trucks will come to drop off pre-manufactured products, and smaller trucks will take it from there to deliver to customers nearby.


The Property is 100% leased to Pepsico Global Real Estate, Inc. (“Tenant”), a subsidiary of global-leading, investment-grade rated PepsiCo, Inc (S&P: A+).


Located in east South Carolina, the Property is strategically located just off the interchange of Highway 501 and Highway 76, providing for efficient connectivity throughout the area.


This offering provides investors the exceptional opportunity to acquire a mission-critical industrial facility with a global investment-grade tenant, fresh long-term lease and attractive annual base rent increases.

...

Attributes

Asking price
₩5,035,297,000
Cap rate
6.45%
NOI
₩324,789,000
WAULT
10 years
Year built
2024
Building area net
554 m²
Land area gross
11,817 m²
Occupancy
100%

Media

Investment Highlights

  • Build-to-suit facility strategically selected by Frito-Lay as part of its initiative to open Product Exchange Centers to optimize its national distribution network.
  • Frito-Lay North America is the $13B convenient foods business unit of PepsiCo (NYSE: PEP) & investment-grade rated (S&P: A+) global leading manufacturer and distributor.
  • High-quality facility and strategically selected location with access to Hwy 501 and Hwy 76 to provide ideal connectivity to service the surrounding region.
  • Long-term committed tenant has executed a 10-Year lease with 2.00% annual rent increases.
  • Favorable NN lease with minimal landlord responsibilities.


Frito Lay Last Mile Distribution Center - Marion, SC 4_Property for Sale
Frito Lay Last Mile Distribution Center - Marion, SC 4_Property for Sale

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Frito Lay Last Mile Distribution Center - Marion, SC (0 Properties)

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Last updated
16 May 2024