FSC Industrial 32
Industrial (single-tenant NNN) property in Monroe, MI — sponsored by Four Springs (FSX)
Files with the SEC as FSC Industrial 32, DST
Minimum investment
$100k
Offering size
$82.7M
How much has sold
100.0%
Asset type
Industrial (single-tenant NNN) property
Location
Monroe, MI
Financing
Not stated. The filings for this offering do not say whether it carries mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
FSC Industrial 32 combines the historical SEC filing record with the cited public sources we found for the property and its outcome. Use the chapters below to see what those sources establish, then use the source list to check the underlying materials.
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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?
- Reported location
- Monroe, MI
- Property size
- 1,100,000 sq ft
How did it end?
No sale or other ending on record
Listed as a completed/full-cycle program on Four Springs (FSX)'s published track record.
Ford Logistics Facility / Monroe Packaging Center, Monroe MI · Sponsor: Four Springs TEN31 Xchange, LLC (FSXchange). Property: newly constructed 1,100,000 sq ft industrial distribution facility at 14741 Laplaisance Road, Monroe, MI 48161, on the Ford Monroe Packaging Center campus. 100% single-tenant NNN leased to Ford Motor Company; Ford invested ~$70M in packaging and material-handling equipment at the site. Offering size $157M (equity $80.525M, debt $76.725M); launched October 21, 2024; fully subscribed by June 2025.
1,100,000 sq ftSupporting evidence
Who's behind it?
- Sponsor
- Four Springs (FSX)
- Legal Trust name
- FSC Industrial 32, DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 2 active / 10 total offerings from Four Springs (FSX)
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
- First Form D filedThe public offering record begins.
- Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
- Filings on record
- 2
- How it may be offered
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- 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 FSC Industrial 32?
Top1031 lists FSC Industrial 32 as historical. It is no longer raising money.
Where does Top1031 get the data for FSC Industrial 32?
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.
Chapter 7Four Springs TEN31 Xchange Fully Subscribes $175M Pair of Industrial, Healthcare DSTsReports FSC Industrial 32, DST (launched October 2024) was fully subscribed alongside FSC Healthcare 28, DST, totaling roughly $175 million in equity raised. Inside Ford's new Monroe packaging centerTrade coverage of Ford's Monroe Packaging Center (opened March 2024) on the same Laplaisance Road campus; describes consolidated aftermarket-parts distribution operations underpinning the DST tenancy. Four Springs TEN31 Xchange Launches $157 Million DST Offering 100% Leased to FordAnnounces launch of FSC Industrial 32, DST, a $157 million DST at 14741 Laplaisance Road, Monroe, MI; the 1.1M sq ft industrial distribution facility is fully NNN-leased to Ford Motor Company on a long-term basis. Four Springs TEN31 Xchange Successfully Completes $160 Million in DST Offerings, Announces Strategic Acquisitions and Partnership with Alts Fund LINKAnnounces the upcoming launch of FSC Industrial 32, DST ("Industrial 32, valued at $150 million, featuring a 1.1 million square foot industrial property in the Detroit MSA, to Ford Motor Company") alongside the closing of IP27/HC28.