FSX Industrial 35

Availability unconfirmed. Active means a filing within the past 15 months; it does not by itself establish current subscription availability.

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.

A purpose-built cross-dock industrial distribution facility of approximately 798,000 square feet in Tifton, Georgia, completed in 2024 and leased to Orgill, Inc., per the sponsor's July 9, 2026 launch announcement. Baker 1031's offering page puts it at 10 Orgill Way on an 86.9-acre site and calls it Class A. Sponsor-distributed coverage describes it as Orgill's newest and second-largest distribution center. It is the Trust's only building.

Not according to the only public description located. Baker 1031 reports that the Trust holds a leasehold interest under what it calls a property-tax-saving bond lease, rather than fee title. That is a secondary source, so the PPM (the Private Placement Memorandum, the offering's governing disclosure document), the deed and the bond documents are where a buyer confirms what interest the Trust actually holds and what happens at bond maturity.

Three figures circulate and the public record does not reconcile them. Top1031 reported on July 30, 2026 that the equity amount filed with the SEC, the $38.1 million shown on the sponsor's offerings page, and the $74.1 million cited in July 9, 2026 launch coverage all attach to the same Tifton building, and that the Form D names no property, no purchase price and no mortgage debt. Baker 1031 separately lists $74,165,000 of total capitalization including $38,425,000 of first-mortgage debt, which would make the largest figure the whole capital stack rather than the equity raise — but no SEC filing confirms that, and the PPM's sources-and-uses table is where a buyer settles which total governs.

The SEC Form D names no lender and discloses no debt. Baker 1031's offering page describes a $38,425,000 first mortgage from Old National Bank, fixed through an interest-rate swap, with a seven-year term maturing June 2033, five years of interest-only payments, then payments on a 30-year amortization schedule and a balloon at maturity. Those are sponsor-distributor figures rather than filed disclosures, and whether the loan is nonrecourse to investors was not established in the sources reviewed, so the loan documents and the PPM's debt section control.

Orgill, Inc., described in the sponsor's July 7, 2026 acquisition announcement as the world's largest independent hardlines distributor, is the sole occupant. Baker 1031 reports the building 100% leased to Orgill under an absolute triple-net lease with approximately 17 years remaining through March 2044, two ten-year renewal options and approximately 2% annual rent escalations. With one tenant, one building and one lease, the tenant's credit and the lease's remaining term drive the Trust's income, so the PPM is where a buyer looks for whatever tenant financial or guaranty information the sponsor discloses.

The SEC record holds a single Form D new notice, filed July 30, 2026, with no amendment and no termination filing since. That filing reports a $100,000 minimum investment and an offering made under Rule 506(c) — the exemption that lets a sponsor advertise publicly provided every buyer's accredited status is verified rather than self-certified. Subscription levels change daily, so the sponsor and its selling group are where a buyer confirms current availability.