CX Industrial Logistics
Industrial in Meridian, ID — sponsored by Carter Exchange
Files with the SEC as CX Industrial Logistics, DST
Minimum investment
$25k
Offering size
$38.6M
How much has sold
85.0%
Asset type
Industrial
Location
Meridian, ID
Financing
Leveraged. This offering reports mortgage debt on the property.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
CX Industrial Logistics, DST is a Delaware Statutory Trust — a structure that lets 1031 exchange investors hold a fractional interest in real estate — owning one Amazon last-mile delivery station in Meridian, Idaho. Sponsor Carter Exchange bought the completed building from its developer in 2022.3 The building is triple-net leased to Amazon.com Services, LLC, and the sponsor's page lists the offering as closed to new subscriptions.2
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These links support the historical public record; individual details may come from different sources.
On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.
What exactly is the property?
Adler Industrial developed the facility and sold the finished building to Carter Exchange, with the sale announced June 29, 2022 and no price disclosed.3 It sits on roughly 17.5 acres at 2490 E Franklin Road in Meridian, Idaho, completed in 2022 as an Amazon last-mile delivery station with 682 delivery-van spaces.2 On August 15, 2022, BoiseDev reported the station still empty after a planned early-2022 opening.4
- Reported location
- Meridian, ID
- Property size
- 141,360 SF
Who is the tenant, and what's the lease?
Carter Exchange reports the building 100% leased to Amazon.com Services, LLC on a triple-net basis — the tenant, not the Trust, carries taxes, insurance and maintenance — with the lease guaranteed by parent Amazon.com, Inc.2
How did it end?
No sale or other ending on record
Carter Funds' Carter Exchange page, marked As of 2025, affirmatively lists Meridian, ID - Industrial Logistics in its Current Portfolio, supporting continued ownership and operation of the CX Industrial Logistics, DST property.
Built 2022 as a last-mile Amazon delivery station (~141,360 net rentable SF on ~17.5 acres at 2490 E Franklin Rd, Meridian, ID); 100% triple-net leased to Amazon.com Services, LLC guaranteed by Amazon.com, Inc.; DST program closed to new subscriptions per sponsor page.
141,360 SFSupporting evidence
How is it financed, and what does it pay?
Neither the Form D nor Carter Exchange's public page for this Trust establishes whether it carries mortgage debt. Lender identity, loan terms and any leverage are absent from the public record reviewed here.
Who's behind it?
Carter Exchange is the 1031 exchange arm of Carter Funds, packaging single-asset Delaware Statutory Trusts for exchange investors; the Trust's manager entity is CX Industrial Logistics Manager, LLC. A Carter Exchange overview brochure dated March 2024 still lists this Trust among its holdings as a Meridian, Idaho industrial property. Research through August 27, 2026 turned up no entity-specific development for this Trust in the prior two years.
- Sponsor
- Carter Exchange
- Legal Trust name
- CX Industrial Logistics, DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 0 active / 10 total offerings from Carter Exchange
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
Carter Exchange filed one Form D under Rule 506(b) — the private-placement rule that bars general advertising and limits sales to investors the sponsor already knows, effectively accredited investors meeting SEC income or net-worth tests. The filing reports a first sale on July 20, 2022, months before the filing date, and no amendment has followed.1
- Form D filedFirst and latest filing on record.
- Filings on record
- 1
- How it may be offered
- Rule 506(b)Not advertised publicly. Offered through existing relationships.
- Source filing
- Read the filings on SEC EDGAR
A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current Private Placement Memorandum before investing.
Common questions
What happened to CX Industrial Logistics?
Top1031 lists CX Industrial Logistics as historical. It is no longer raising money.
Where does Top1031 get the data for CX Industrial Logistics?
Top1031 builds this record from the sponsor’s own SEC filings and cited sponsor disclosures. Filings can lag what is happening now. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
Can I still invest in CX Industrial Logistics, DST?
No. Carter Exchange's page for the Trust states the offering is closed to new subscriptions. The SEC record shows a single Form D filed October 20, 2022 and no later amendment, so nothing in the public record indicates the offering reopened.
Who is the tenant, and who stands behind the lease?
Carter Exchange reports the Meridian, Idaho building 100% leased to Amazon.com Services, LLC, with the lease guaranteed by the parent company, Amazon.com, Inc. The lease is triple-net, meaning the tenant pays property taxes, insurance and maintenance rather than the Trust.
What is the property, exactly?
A last-mile delivery station completed in 2022 on roughly 17.5 acres at 2490 E Franklin Road in Meridian, Idaho, with 682 delivery-van parking spaces, per Carter Exchange. Adler Industrial developed it and sold the finished building to Carter Exchange, per a June 29, 2022 Idaho Statesman report that did not disclose a price.
Did the Amazon station actually open?
BoiseDev reported on August 15, 2022 that the completed building was sitting empty despite a planned early-2022 opening. A KIVI-TV segment dated April 1, 2024 profiled an Amazon delivery facility of about 140,000 square feet in Meridian. The Trust's current operating status is not established by the sources reviewed here.
Does this Trust have a 721/UPREIT exit?
The record shows no REIT conversion feature. A 721/UPREIT exit is a structure in which the DST's property is later contributed to a real estate investment trust's operating partnership in exchange for partnership units; this Trust is not flagged as offering that path.
How much debt does the Trust carry?
Unknown from the public record. The Form D does not disclose loan terms, and the sponsor page and independent reporting reviewed here do not establish a lender, a loan balance, or whether the Trust is leveraged at all. Those terms would appear in the private placement memorandum (PPM), the offering's governing disclosure document.
Chapter 9Inside the warehouse: A look inside the Treasure Valley's newest Amazon fulfillment centerKIVI profiled Meridian's ~140,000 SF Amazon delivery facility off Ten Mile Rd. Carter Exchange Overview 2024 (PDF)Carter Exchange overview brochure listing CX Industrial Logistics, DST as a Meridian, ID industrial property. Amazon fails to open warehouse in Meridian, IDBoiseDev reported that Florida-based Carter Exchange purchased the Meridian Amazon last-mile delivery site, per property records. Amazon to open new delivery station in MeridianKTVB reported Amazon would build a last-mile delivery station at 2490 East Franklin Road in Meridian, ID, more than 140,000 SF.