Case Study: DHL (Pfizer 3PL), Vonore, TN
Guaranteed triple net lease
Avg. annual net cash return
Property: 630,000 s.f. distribution center on 100 acres serving as Pfizer pharmaceuticals primary distribution facility for over-the-counter products. 7 year triple net lease with two 5 year renewal terms.
Tenant: Occupied by Exel, Inc., as the contract operations and logistics provider for Pfizer for its entire OTC line of products nationwide.. Lease is guaranteed by Deutsche Post DHL, the world’s largest logistics company.
Market: Located outside of Knoxville in Vonore, TN within the Tellico West Industrial Park. Positioned near three key distribution and heavy-load interstates, providing coverage to >2/3rds of North America in 1-3 days by truck.
Economics: Purchased off-market at a 8.75% capitalization rate. Investors are receiving an avg. annual net cash-on-cash return of 10.3% over the lease term.