Four Springs Launches $74.1M Industrial DST Tied to Georgia Distribution Facility

Four Springs TEN31 Xchange, LLC has launched FSX Industrial 35, DST, a $74.1 million Delaware statutory trust offering available to accredited investors, the sponsor announced Thursday.

The offering is backed by a 798,000-square-foot industrial distribution facility in Tifton, Ga., leased long-term to Orgill Inc. under an absolute triple-net agreement with contractual rent growth. Completed in 2024, the purpose-built cross-dock facility is the newest and second-largest of Orgill’s eight distribution centers, which together span 6.7 million square feet across North America.

Orgill, based in Collierville, Tenn., has operated for more than 178 years and serves about 13,000 independent hardware, home center, and lumberyard retailers in more than 60 countries.

“FSX Industrial 35 reflects the fundamentals-first approach we bring to every DST offering,” said Matt Woehnker, president of Four Springs Capital Markets. “For 1031 exchange investors seeking long-term, contractual income backed by an operationally embedded tenant, this is the type of mission-critical real estate that creates a compelling investment opportunity. The combination of purpose-built infrastructure, absolute NNN lease structure, and Orgill’s 30-year presence in this market makes Industrial 35 a natural fit for any exchange portfolio.”

Jared Morgan, head of acquisitions at Wheelhouse Capital Group, the parent company of Four Springs TEN31 Xchange, said the Tifton property reflects the type of asset the firm targets for its DST programs.

“Orgill’s Tifton facility is a great representation of the assets we want to underwrite,” Morgan said. “Purpose-built, strategically located, and operated by a tenant that has committed to this market for decades. Orgill’s decision to invest in a replacement facility rather than relocate tells you everything about how load-bearing this location is within their network.”

Four Springs TEN31 Xchange launched its previous industrial DST offering, the $98 million FSX Industrial 34, in late 2025, and plans additional industrial DST launches throughout 2026.

Founded in 2014, Four Springs TEN31 Xchange specializes 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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