FedEx Ground facility headed to Texas, near Houston
by Memphis Business Journal
FedEx Ground could be an example of the type of occupier that’ll pick up the slack in the broader industrial market as Amazon and other tenants slow their logistics growth, The Business Journals’ Ashley Fahey recently reported.
Camille Renshaw, CEO and Co-founder of B+E, a New York-based brokerage firm specializing in net-leased real estate, told Fahey that for years Amazon has been the leading preferred tenant for most net-leased single-tenant investors.
“As Amazon pulls back, FedEx is not really in the same situation,” Renshaw said. “They effectively haven’t overbuilt. They’re continuing to grow their footprint, they’re continuing to sign new leases. … We do see this as probably the darling of industrial single-tenant investment sales in the coming 12 to 24 months.”