Four Springs FSX Industrial 34 DST

Investment Highlights

• FSX Industrial 34, DST consists of a portfolio of two single-tenant NNN, mission-critical industrial facilities leased to Eaton Corporation and Carhartt, Inc.

• The portfolio has 11+ years of weighted average remaining lease term with annual escalations and minimal landlord responsibility.

• Both tenant companies are over 100 years old and have notable histories. Independent credit reviews from Alliance Research rate the credit of both tenants, Carhartt, Inc. and Eaton Corporation, as "good."

• Carhartt Property: 681,000 SF purpose-built distribution hub located in Hanson, Kentucky. Originally constructed as a build-to-suit for Carhartt in 1998 and expanded in 2009, the Property serves as Carhartt’s primary national SKU facility in the U.S.

• Carhartt Property: property has been well-maintained with over $1 million of capital expenditures per year since 2015. Carhartt has also invested over $70 million in racking, conveyor systems, and robotics within the facility.

• Eaton Property: industrial warehouse for Eaton’s Electrical business segment located in Duncan, South Carolina. Originally constructed in 1980, the building totals 315,273 square feet and is comprised of 265,800 square feet of warehouse space, 37,304 square feet of manufacturing space, and 12,169 square feet of office space.

• Eaton Property: Eaton completed a $5 million project at the Duncan, SC warehouse in 2012 to increase the size of the facility by adding 127,000 square feet of space.

• Cost Segregation Analysis Complete