This confidential offering memorandum provides information on a net leased FedEx property for sale in Freeland, Michigan. FedEx has leased the 27,000 square foot property since 1991 and the lease expires in 2016 with two 5-year renewal options remaining. The property benefits from its location near the MBS International Airport and has an asking price of $1,908,620, representing an 8.7% capitalization rate. Contact information is provided for further discussions.

1. NET LEASED INVESTMENT OFFERING
FedEx
8273 Garfield Road
Freeland, MI 48623
CONFIDENTIAL OFFERING MEMORANDUM
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2. TABLE OF CONTENTS
NET LEASED INVESTMENT OFFERING
TABLE OF CONTENTS
1) Confidentiality & Disclaimer
2) Executive Summary
3) Property Overview
4) Aerial
5) Site Plan
6) Maps
7) Demographic Comparison Report
8) Tenant Profile
9) Location Overview
10) Contact Information
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3. CONFIDENTIALITY & DISCLAIMER
NET LEASED INVESTMENT OFFERING
CONFIDENTIALITY & DISCLAIMER
CONFIDENTIALITY
The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is
intended to be reviewed only by the party receiving it from The Boulder Group and should not be made available to
any other person or entity without the written consent of The Boulder Group. This Offering Memorandum has been
prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary
level of interest in the subject property. The information contained herein is not a substitute for a thorough due
diligence investigation. The Boulder Group has not made any investigation, and makes no warranty or
representation, with respect to the income or expenses for the subject property, the future projected financial
performance of the property, the size and square footage of the property and improvements, the presence or
absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the
physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or
any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this
Offering Memorandum has been obtained from sources we believe to be reliable; however, The Boulder Group has
not verified, and will not verify, any of the information contained herein, nor has The Boulder Group conducted any
investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy
or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the
information set forth herein.
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4. EXECUTIVE SUMMARY
NET LEASED INVESTMENT OFFERING
EXECUTIVE SUMMARY
The Boulder Group is pleased to exclusively market for sale a single tenant net leased FedEx property located in Freeland,
Michigan. FedEx has been at this location since its construction in 1991 and benefits from its strategic location adjacent
to the MBS International Airport. The MBS International Airport is serviced by United Airlines and Northwest Airlines and
provides air travel services for over 260,000 passengers annually, in addition to the 124,000 pounds of air cargo
transported each year. The MBS International Airport is currently undergoing a $48 million expansion for a brand new
terminal. A prior economic impact study found the MBS International Airport to have a $100 million economic benefit
annually to the surrounding area. The same study found that the direct impact of the airport through jobs and property-
related revenues was estimated at more than $50 million annually.
The 27,000 square foot FedEx was built in 1991 and is benefitted by its location near the MBS International Airport.
FedEx is located along Garfield Road, the main thoroughfare between the MBS Airport Terminal and US-10. The property
has 4,000 square feet of office space and 23,000 square feet of warehouse/distribution space with 16 foot clear height
ceilings. The property is located less than ten miles from the headquarters of Dow Chemical Corporation. Dow Chemical
and Dow Corning each have their own private hanger at the MBS International Airport that were renovated prior to the
construction of the new MBS terminal.
FedEx has been at this property since 1991 and its current lease extension expires in June 2016. There are two 5-year
renewal options remaining. The rent escalates by 20% in each remaining option period. FedEx is a publicly traded
company on the New York Stock Exchange (FDX), with a market capitalization of $27 Billion. FedEx is an investment
grade company with a Standard & Poor’s rating of BBB.
INVESTMENT HIGHLIGHTS
• Standard & Poor’s investment grade rating of BBB
• 20% rental escalation in each of the two remaining options
• Strategic location adjacent to MBS International Airport
which transports over 120,000 pounds of air cargo annually
• Longstanding tenant with over twenty years of operating
history at the site
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5. PROPERTY OVERVIEW
NET LEASED INVESTMENT OFFERING
PROPERTY OVERVIEW
Price: $1,908,620
Cap Rate: 8.70%
Net Operating Income: NOI Escalation Date
$166,050
$199,260 7/1/2016 (Option 1)
$239,220 7/1/2021 (Option 2)
Renewal Options: Two 5-year options
Lease Commencement Date: February 1, 1991
Lease Expiration Date: June 30, 2016
Tenant: FedEx
Year Built 1991
Lease Type: NN (Roof, Structure & HVAC Replacement)
Rentable Square Feet: 27,000 SF
Land Size: 3.56 acres
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6. AERIAL
NET LEASED INVESTMENT OFFERING
AERIAL
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7. SITE PLAN
NET LEASED INVESTMENT OFFERING
SITE PLAN
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8. MAPS
NET LEASED INVESTMENT OFFERING
MAPS
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9. DEMOGRAPHIC COMPARISON REPORT
NET LEASED INVESTMENT OFFERING
DEMOGRAPHIC COMPARISON REPORT
Population 5-mi. 7-mi. 10-
10-mi
Total Population 16,002 42,559 148,596
Total Households 5,554 15,767 59,813
Income
Median Household Income $62,806 $58,012 $52,995
Average Household Income $72,432 $70,119 $62,672
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10. TENANT PROFILE
NET LEASED INVESTMENT OFFERING
TENANT PROFILE
FedEx Corporation (NYSE: FDX) is a logistics services company, based in the United States with headquarters in
Memphis, Tennessee. FedEx provides customers and businesses worldwide with a broad portfolio of transportation,
e-commerce and business services. FedEx offers integrated business applications through operating companies
under the respected FedEx brand. FedEx provides delivery for more than 9 million shipments each business day.
FedEx has over 688 aircrafts that serve more than 375 airports worldwide in to the ground fleet of over 90,000
motorized vehicles for express, ground, freight and expedited delivery service.
FedEx Express is a subsidiary of FedEx Corporation that is responsible for overnight courier services, providing next
day air service within the United States and time-definite international service. FedEx Express operates one of the
largest civil aircraft fleet in the world and the largest fleet of wide bodied civil aircraft; it also carries more freight than
any other airline. FedEx Express provides delivery services to over 220 countries and territories. FedEx Express is the
world’s largest express transportation company and provides delivery for more than 3.6 million shipments each
business day.
Websites: www.fedex.com
Stock Symbol: FDX : NYSE
Standard & Poor’s Rating: BBB
Market Capitalization: $27 Billion
Employees: 290,000
2011 Revenue: $39 Billion
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11. LOCATION OVERVIEW
NET LEASED INVESTMENT OFFERING
LOCATION OVERVIEW
Freeland is an unincorporated community in Saginaw County, Michigan. Freeland is the
home to the MBS International Airport, which serves three major nearby cities: Saginaw,
Bay City and Midland. Saginaw County is part of the Flint/Tri-Cities area and at the time
of the 2010 U.S. Census had a population over 200,000. The Tri-Cities area has a
population of over 400,000 and includes the counties of Saginaw, Bay City and Midland.
Major employers in the Tri-Cities include The Michigan Sugar Company (a 1,250 famer
cooperative), three General Motors Powertrain plants, The Dow Chemical Company,
Delphi Corporation and S.C. Johnson and Son. The world headquarters of The Dow
Chemical Company is located in Midland. Dow Chemical is the second largest producer
of chemical in the world. The area is also home to the world headquarters of Nexteer
Automotive, an automotive parts supplier.
http://www.saginawcounty.com/
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12. CONTACT INFORMATION
NET LEASED INVESTMENT OFFERING
CONTACT INFORMATION
666 Dundee Road Suite 1801
Northbrook, IL 60062
Randy Blankstein Jimmy Goodman
President Partner
847.562.0003 847.562.8500
rblank@bouldergroup.com jimmy@bouldergroup.com
www.bouldergroup.com