Amazon Last Mile Distribution Center
Industrial property in Tallahassee, FL · sponsored by Secure Properties
Amazon Last Mile Distribution Center is a DST sponsored by Secure Properties that owns an industrial property in Tallahassee, FL. Its latest Form D, filed Jan 28, 2026, lists a $21.9 million offering with a $21,930,000 minimum.
Key facts
A free account shows how much of each active offering has sold and the Sponsor Grade letters.- Minimum investment
- $21,930,000From the Form D
- Offering size
- $21,930,000Equity offered, per the Form D
- Sold so far
- Not reported after the first Form D (Jan 28, 2026)Form D, Jan 28, 2026
- Selling commissions
- Form D Item 15; the % is our arithmetic$2,083,350 · 9.5% of offering
- Financing
- Leveraged. This offering reports mortgage debt on the property.How it is financed ↓
- Offered under
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
Figures come from SEC Form D filings unless a source is cited. Sponsor-stated figures are as reported by the sponsor; Top1031 does not independently audit them. On a 45-day clock? Find day 45 and day 180 →
Can I still invest?
A free account shows how much of each active offering has sold and the Sponsor Grade letters.No new interests: the offering is reported fully subscribed.
Other Secure Properties offerings on record
- Grand Rapids FacilityGrand Rapids, Michigan · $25,000 minimum · $28,621,000 offeringActive offering · latest Form D Jul 14, 2026
Availability changes without a filing. The sponsor or a registered representative can confirm what is open.
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Ask a 1031 specialist about this recordFree. About: Amazon Last Mile Distribution Center. Top1031 is not a broker-dealer.No photo on record.
What does the Trust own?
The Trust owns one warehouse completed in 2023, a last-mile building that stages parcels for vans running local delivery routes. 1 Leon County's appraiser record names Secure Net Lease Industrial I DST as the owner and shows a warranty deed transfer dated December 10, 2025 for $36,718,900. 4 Baker 1031 reports an off-market net purchase price of $36,602,215. 1
- Property address
- 3799 Northwest Passage, Tallahassee, FL
- Property size
- single asset; 123,903 square feet
How is it financed, and what did it cost to sell?
Investor equity sits alongside a $20,445,000 fixed-rate first mortgage from KeyBank National Association, reported as interest-only, so no principal is paid down during the term and the whole balance comes due at maturity. 1
Debt
- Financing
- Leveraged. This offering reports mortgage debt on the property.
- May convert to a REIT (721)
- Loan interest rate
- 5.73% (loan amount) From Secure Properties’ offering documents (Jan 2026). As reported by the sponsor.
- Target hold
- 6–9 years From Secure Properties’ offering documents (Jan 2026). As reported by the sponsor.
Costs and terms from the Form D
- Selling commissions
- $2,083,350 · 9.5% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $4,372,785 · 19.9% of offeringForm D Item 16· The filing’s note: “Secure Net Lease Depositor I, LLC will be responsible for paying certain fees and costs of approximate $4,372,785.”
- Broker-dealers named in the Form D
- 1 named in the Form D
Show the firms
- Orchard Securities, LLC · CRD 133378
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Not in the Form D
- Minimum investment
- $21,930,000
Form D Item 15 and Item 16 amounts may be the issuer’s estimates; each percentage is Top1031’s arithmetic on two Form D figures. Item 16 can overlap Item 15, so Top1031 does not add them together. The issuer marked these amounts as an estimate.
What are the deal terms?
From Secure Properties’ offering documents (Jan 2026).
A free account shows how much of each active offering has sold and the Sponsor Grade letters.Your exit
- Can the sponsor's affiliate buy investors out?
- Yes, after 2 years
If an investor doesn't respond: paid in cash (a taxable sale)
Rent and the bills
- Who pays rent to the trust?
- A master tenant affiliated with the sponsor
- Who pays for roof and structural repairs?
- Investors, through the trust
- Who pays if taxes or insurance go up?
- The tenant or master tenant
- Was the property bought from a sponsor affiliate?
- No
Your rights
- Can investors remove the manager?
- No
- How are disputes with the sponsor resolved?
- In court
Who's behind the Trust?
Secure Properties was new to the DST market when this Trust launched; it presented the Tallahassee building on January 28, 2026 as the first acquisition of its Secure Real Estate Exchange platform. AltsWire reported on July 20, 2026 that the debut raise reached $21.9 million and that a second, larger industrial trust anchored by a GE Aviation-leased facility had launched. 3 The sponsor's brochure notes the Trust Manager and master tenant are newly formed entities with no operating history. 2
- Sponsor
- Offerings on record
What does the SEC record show?
The Form D, the short notice an issuer files when selling securities privately, was filed at launch and has not been amended. The exemption used allows public advertising, provided each buyer's accredited status, meaning they meet SEC income or net worth tests, is verified with documents rather than self-certified.
- Legal Trust name
- Secure Net Lease Industrial I, DST
- SEC CIK
- 2105417
- First Form D
- Jan 28, 2026
- Latest Form D
- Jan 28, 2026
- Filings on record
- 1
- Offered under
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Filing on SEC EDGAR |
|---|---|---|---|---|
| Form D | $21,930,000 | $0 | EDGAR |
Amounts, investor counts and minimums are as filed with the SEC on Form D. The change lines are Top1031’s arithmetic between consecutive filings; a new Form D notice starts a new count.
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.
Common questions
- Can I still invest in Amazon Last Mile Distribution Center?
- No new interests: Amazon Last Mile Distribution Center is reported fully subscribed. Top1031 lists it as recently fully subscribed and does not count it as an active offering.
- Does Amazon Last Mile Distribution Center have a 721 UPREIT exit?
- The record lists a possible 721 exit for Amazon Last Mile Distribution Center. It is an option, not a completed transaction; the offering documents set whether and when it can happen. In a 721 exchange, or UPREIT, the DST’s property is contributed to a REIT’s operating partnership and investors receive operating-partnership units instead of cash.
- How a DST-to-721 UPREIT exit works
- Who is the tenant, and what does the lease say?
- The sponsor's brochure reports the building 100% leased to Amazon.com Services, LLC, a subsidiary of Amazon.com, Inc., which guarantees the tenant's payment obligations. The brochure describes a net lease under which the subtenant pays real estate taxes, insurance and other operating expenses, with 2.50% annual rent increases during the primary term and five five-year extension options. Baker 1031's offering page reports a 15-year lease that commenced in October 2023 and runs through October 2038, and describes the property as master-leased to an affiliated master tenant that subleases to Amazon, a common DST arrangement that keeps the trust itself out of day-to-day landlord decisions.
- What does the Trust own?
- One building: a 123,903-square-foot last-mile distribution facility at 3799 Northwest Passage in Tallahassee, Florida, identified in the sponsor's brochure as the Amazon Last Mile Distribution Center. Baker 1031's offering page reports the facility was completed in 2023. There is no second property and no portfolio; all of the Trust's rent comes from this single asset and its single occupier.
- What did the Trust pay, and when did ownership transfer?
- Leon County's property appraiser record for parcel 2119510000360 names Secure Net Lease Industrial I DST as owner and shows a warranty deed transfer dated December 10, 2025 in the amount of $36,718,900. Baker 1031's offering page reports an off-market net purchase price of $36,602,215. The two figures come from different sources and are stated on different bases. Secure Properties announced the acquisition publicly on January 28, 2026.
- Is the property financed with debt?
- Yes. Baker 1031's offering page reports a $20,445,000 fixed-rate first mortgage from KeyBank National Association, described as interest-only with a September 1, 2035 maturity. Interest-only means the principal balance is not amortized during the term and falls due in full at maturity, so the property is refinanced or sold by then. Debt matters to a 1031 exchanger because replacement debt is often needed to match the debt retired on the property being sold.
- Who sponsors the Trust, and who sells it?
- Secure Properties sponsors the Trust through its Secure Real Estate Exchange platform; the offering brochure identifies Secure Real Estate Exchange, LLC as the sponsor entity and the Trust as an affiliate of it. AltsWire reported that Orchard Securities, LLC serves as managing broker-dealer, the firm that oversees distribution of the offering through other broker-dealers and advisers. AltsWire also reported on July 20, 2026 the launch of a second, larger industrial trust anchored by a GE Aviation-leased facility.
- What does "last-mile" mean for a building like this?
- Last-mile refers to the final leg of delivery: a facility that stages parcels for vans running routes to nearby households, rather than moving bulk freight between regional hubs. The sponsor's brochure identifies this Tallahassee property as the Amazon Last Mile Distribution Center. Buildings of this type are configured around one occupier's delivery operation, which is why re-tenanting assumptions are a standard subject of diligence in the offering documents.
In the news
Sources
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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 offering documents before investing.