Cove Essential Net Lease Industrial 114 DST

Property and tenant

The trust holds a 23,018-square-foot industrial distribution facility in Mobile, Alabama, delivered as a 2025 build-to-suit that serves as a Product Exchange Center for an operator the sponsor describes as a division of a multinational food and beverage corporation and "a cornerstone of the U.S. snack food market," which previously operated from an older area facility for over 20 years. The asset is subject to a newly executed 10-year net lease, and the acquisition closed on April 30, 2026 in a 100% debt-free transaction ².

Capitalization and offering

The issuer-filed Form D dated March 16, 2026 reported a total offering of $12,126,736 with $9,186,103 sold as of that date ¹. The sponsor's release describes a Reg D Rule 506(c) equity raise with the same figures and roughly $2,940,633 remaining as of the filing ². Top1031's dated structured record classifies the offering as about 76% sold and flags an optional 721 exchange feature ⁴.

Structure

Cove structures the trust as an all-cash, 100% debt-free DST, and its release states principals Dwight Kay and Chay Lapin co-invest their own capital; the 721 exchange exit is fully optional ².

Sponsor

Cove Capital Investments' published profile reports 134 properties across 36 states, more than 4.1 million square feet, over $1.083 billion in sponsored DST and real estate offerings, and 2,721 investors, with historical or active tenants including FedEx, Amazon, PepsiCo/Frito-Lay, and Tractor Supply Co.; the page expressly disclaims affiliation with or endorsement by PepsiCo or Frito-Lay ³.