FedEx Express — Sale in Pasco, WA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Pasco, WA 99301
  • Year built: 1999

Photos

FedEx Express — Sale in Pasco, WA, photo 1 of 4
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Investment Figures

Cap rate
7.00%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap has been retained by ownership to exclusively offer to the investment market this 50,851-square-foot, build-to-suit FedEx Express distribution center in Pasco, Washington. Originally developed in 1992 and expanded in 2018, this last-mile industrial facility sits on a 3.80 ± acre parcel just minutes from Interstate 182 and U.S. Route 395. FedEx Express has seven years and two months remaining on its lease, with two five-year renewal options at fair market rent. The ground lease with the Port of Pasco extends through December 31, 2043, with two 10-year options. This leasehold investment may provide investors with significant depreciation benefits that are generally unavailable in comparable fee simple ownership structures. Investors should consult their tax advisors regarding specific tax implications. The property’s current rent of $9.24 per square foot sits below the submarket asking logistics rent of $10.55 per square foot (CoStar, July 27, 2026). Submarket rents grew 2.40 percent from 2025, and robust demand across the industrial logistics segment has driven vacancy in the Kennewick-Richland-Pasco submarket to just 2.10 percent. Given accelerating demand for logistics warehousing, this investment offers strong re-leasing potential at higher rents. FedEx is a leading global transportation and logistics company, reporting fiscal 2026 revenues of more than $94.7 billion (an 8.0 percent increase from 2025) and carrying an S&P rating of “BBB” (stable). The company operates more than 5,000 facilities worldwide and remains the dominant global delivery provider. FedEx manages the property on a day-to-day basis, leaving ownership with virtually no management burden and limited responsibilities. All annual operating expenses are the tenant’s responsibility. The Tri-Cities MSA (Kennewick, Richland, and Pasco) is the third most populous metropolitan area in Washington, behind Seattle and Spokane. The facility is strategically sited on Tri-Cities Airport (PS

Market Context

This retail in Pasco, WA is listed for sale. It is offered at an approximate 7.0% capitalization rate, a key benchmark for income-producing retail assets. The building dates to 1999. Compare it against other retail listings for sale in Pasco, WA — view the full market.

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