Fedex Ship Center Investment 401 Paintersville Road, Hunker, PA 15639

Property Description

Landmark Commercial Realty is pleased to present to investors the opportunity to acquire the single tenant net leased industrial flex property located at 401 Paintersville Rd in New Stanton, PA which is in the Pittsburgh Market. The subject property was a build to suit building for FedEx Corporation for a corporately owned FedEx Ship Center in 1990, which it is still operating as today. The FedEx Ship Center is a retail focused location that offers shipping drop off and pick up services for FedEx Express & FedEx Ground. The 25,574 SF building consists of 3,800 SF office/retail space, 20,000 SF of warehouse space, and a 1,740 SF vehicle maintenance area. The building is 100% climate controlled and fully sprinklered with a total of five (5) drive in doors, three (3) dock doors, and 20’ clear ceiling height.

The offering brings the opportunity to add value by resetting rents to market, which have been increasing in the highly desired Pittsburgh Market. This market has below average vacancy and is seeing rent increases well above the national average for industrial space over the last several years. The location of the Subject Property is ideally situated near the intersection of I-76 The Pennsylvania Turnpike, I-70, US-60 and US-119 which is a focal point for new industrial development including the Regional hub for FedEx Ground, regional hub for FedEx Freight, and a new regional hub for UPS.

The Westmoreland County submarket remains strong with several key indicators continuing to outperform the national average. Vacancy for flex space in the submarket is 1.2% with no new product coming to the market in the immediate future. Average rent increased slightly in 2023 and are projected to continue to rise into 2024 with current flex rents averaging $9.42 PSF in Westmoreland County. The regions labor market remained historically strong with Q2 2023’s unemployment rate being a full point and a half below the 10 year average. Employment growth across all industrial-occupying sectors increased in Q2 2023, while inflation had a nominal increase of 0.2% in June 2023. The immediate area around the subject property has attracted industrial corporate tenants in recent years such as Amazon, UPS, FedEx Ground, FedEx Freight, UNFI, Siemens Corporation, SLB Freight, Intervala, and Westinghouse.