Four Springs Acquires Amazon-Leased Georgia Facility, Launches $58.93M DST
Four Springs TEN31 Xchange, LLC, or FSXchange, has acquired a 278,670-square-foot Amazon-leased cross-dock sortation center in Appling, Ga., and launched FSX Industrial 36, DST, a $58.93 million all-cash Delaware statutory trust offering available to accredited investors, the company said.
The facility is leased to Amazon.com Services LLC and guaranteed by Amazon.com, Inc. (Nasdaq: AMZN) under a long-term net lease with annual rent escalations. S&P Global Ratings rates Amazon AA with a stable outlook. The minimum investment in the offering is $100,000, and the $58.93 million offering size includes reserves and fees in addition to the acquisition price, according to the company.
The property, known within Amazon’s network as AGS5, is a Class A cross-dock facility completed in 2021 on a 46.38-acre site within the White Oak Business Park along Interstate 20, in the Augusta market. It sits adjacent to AGS1, Amazon’s 2.7 million-square-foot multi-story sortable fulfillment center, and serves Amazon’s regional fulfillment and delivery network across eastern Georgia and western South Carolina.
“Industrial 36 reflects what we look for in today’s market: high-quality real estate, durable cash flow and strong credit, paired with a structure that makes sense for our investors,” said Matt Woehnker, president of Four Springs Capital Markets. “Offered alongside Industrial 35, our current leveraged program, the all-cash structure gives advisers greater flexibility to match the investment solution to the specific needs of each 1031 exchange.”
“What drew us to this asset is how deeply Amazon is tied to the location,” said Jared Morgan, head of acquisitions at Wheelhouse Capital Group, the parent company of Four Springs TEN31 Xchange. “This is not a generic box a tenant could walk away from and replicate down the road. Amazon installed its own material handling systems here and built its regional sorting operation around serving the fulfillment center next door. When a tenant invests in a property at that level, the location becomes very hard to leave, and that durability is what we underwrite for.”
Four Springs launched FSX Industrial 35, DST, a $74.1 million offering in July backed by an Orgill Inc.-leased facility in Tifton, Ga. Four Springs has sponsored more than $1.27 billion in cumulative DST volume since 2014, according to the company, up from the more than $1 billion it reported in September 2024.
Founded in 2014, Four Springs TEN31 Xchange is a DST sponsor specializing in creditworthy, single-tenant commercial properties across the industrial, retail, and medical sectors. Offerings are distributed through Four Springs Capital Markets.
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