Description

Jones Lang LaSalle (“JLL”), as exclusive advisor to ownership, is pleased to offer for sale the fee-simple interest in the Frito-Lay Last Mile Distribution Center, a 117,600 SF industrial facility located in the Minneapolis MSA (the “Offering” or the “Property”). Delivered in 2023, the Property is custom-designed for Frito-Lay with modern, future-proofing features including high car and truck parking counts, a 32’ clear height with ample loading positions, and a maintenance garage to service last mile delivery vehicles. In addition to prime physical quality, the Offering’s long-term, growing cash flow stream is secured by the investment-grade credit profile of PepsiCo Inc. (Moody’s: A1,

S&P: A+), the parent company of the lease entity (PepsiCo Global Real Estate). Within a tight Minneapolis industrial market experiencing unprecedented tenant demand, the Frito-Lay Last Mile Distribution Center offers investors an opportunity to acquire a highly functional, modern industrial facility with a secure cash flow and unmatched tenant credit profile.

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Attributes

Building area net

117,600 sf

Occupancy

100%

Year built

2023

Land area gross

16.37 acres

WALT

5.5 years

Clear height

32 ft

Tenants

Frito Lay - PepsiCo

Building class

Media

Investment highlights

LONG-TERM, GROWING CASH FLOW FROM INVESTMENT-GRADE TENANT

Premier Investment Grade Tenant: PepsiCo Global Real Estate, Inc., a wholly-owned subsidiary of PepsiCo Inc., brings exceptional credit strength with premier ratings from Moody's (A1) and S&P (A+).

INSTITUTIONAL GRADE, NEWLY CONSTRUCTED LAST-MILE LOGISTICS FACILITY

Superior Building Design: 32-foot clear height with exceptional dock density of 45 dock doors (1 per 2,600 SF) positions the facility as best-in-class for last-mile logistics operations

PRIME LOCATION WITH SUPERIOR WORKFORCE AND MARKET ACCESS

Strategic Connectivity: Direct access via signalized, four-lane 150tʰ Street to Interstate 35 corridor enables seamless distribution throughout the greater Minneapolis-St. Paul metropolitan area

STRONG MINNEAPOLIS INDUSTRIAL MARKET FUNDAMENTALS