Amazon Last Mile Distribution Center
Industrial (last-mile e-commerce distribution, single-tenant net lease) property in Tallahassee, Florida — sponsored by Secure Properties
Files with the SEC as Secure Net Lease Industrial I, DST
Minimum investment
$21.9M
Offering size
$21.9M
How much has sold
None sold yet
Asset type
Industrial (last-mile e-commerce distribution, single-tenant net lease) property
Location
Tallahassee, Florida
Financing
All cash. This offering reports no mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
A Delaware statutory trust — the structure that lets 1031 exchangers hold fractional interests in one property — owning a single last-mile distribution building in Tallahassee, Florida, leased to Amazon.com Services, LLC through October 2038.1 Secure Properties launched it in January 2026 as the debut acquisition of its Secure Real Estate Exchange platform.2 The sponsor reported the offering fully subscribed in July 2026; it is closed to new investors.3
Equity $21.93M; 506(c); IG publicly traded e-commerce tenant, LT net lease; Orchard Securities mng BD; $0 sold at 1/28/26
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These links support the public record as a whole; 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?
Baker 1031 reports the building was completed in 2023 on roughly 47.82 acres, combining warehouse and office space with 12 loading docks, a trucking terminal and 583 parking spaces.1 Secure Properties presented it on January 28, 2026 as the first acquisition of a new 1031 platform, Secure Real Estate Exchange.2 Baker 1031 reports an off-market net purchase price of $36,602,215.1 Neither the seller nor the closing date appears in the sources reviewed.
- Property address
- 3799 Northwest Passage, Tallahassee, Florida
- Property size
- single asset; 123,903 square feet
Who is the tenant, and what's the lease?
Baker 1031 reports the building is 100% leased to Amazon.com Services, LLC, a wholly owned subsidiary of Amazon.com, Inc., under a lease running from October 2023 through October 2038 with five five-year fair-market-value renewal options.1 It is a net lease, meaning the tenant rather than the landlord carries operating costs.1
How are sales going?
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
The sponsor reported this offering sold out without filing per-sale amendments, so there is no raise history to show.
How is it financed, and what does it pay?
This Trust is leveraged rather than all-cash: investor equity sits alongside a $20,445,000 mortgage that Baker 1031 describes as interest-only, so principal is not paid down during the term.1 The lender is repaid ahead of equity, and the loan has to be refinanced or the property sold by maturity. No source reviewed names the lender.
Who's behind it?
Secure Properties was new to the DST market when this Trust launched; its January 28, 2026 announcement presented the building as the debut acquisition of a new 1031 platform, Secure Real Estate Exchange, with Orchard Securities as exclusive managing broker-dealer.2 The Form D names Brian Mansouri, Kevin Ross and James Gagliano as executive officers.4 The sponsor reported the offering fully subscribed and closed on July 21, 2026.3 A second, larger industrial DST leased to GE Aviation followed in July 2026.
- Sponsor
- Secure Properties
- Legal Trust name
- Secure Net Lease Industrial I, DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 2 active / 2 total offerings from Secure Properties
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The federal record here is the original notice only — no amendment has been filed to reflect the July 2026 reports that the offering closed, so the SEC file still shows the raise as it was first noticed.4 The exemption used permits public advertising, provided each buyer's accredited status is documented rather than self-certified.
- Form D filedFirst and latest filing on record.
- Filings on record
- 1
- 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
Is Amazon Last Mile Distribution Center still raising money?
Top1031 lists Amazon Last Mile Distribution Center as active because the sponsor is still filing with the SEC. That does not confirm that interests remain available.
Where does Top1031 get the data for Amazon Last Mile Distribution Center?
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.
Who is the tenant?
Baker 1031's offering page identifies the tenant as Amazon.com Services, LLC, a wholly owned subsidiary of Amazon.com, Inc., occupying the entire building under a lease that commenced in October 2023 and runs through October 2038, with five five-year fair-market-value renewal options and roughly 2.5% annual rent escalations. The lease abstract in the PPM (Private Placement Memorandum, the offering's disclosure document) establishes the signing entity, any sublease hierarchy and any parent guarantee.
Is this Trust still open to new investors?
No, according to sponsor-side reporting. AltsWire reported on July 20, 2026 that Secure Net Lease Industrial I, DST was fully subscribed, and Secure Properties reported on July 21, 2026 that its debut vehicle had closed. No amended Form D has been filed, so the SEC file still reflects the offering as it was first noticed in January 2026. Availability questions go to Secure Properties or to Orchard Securities, the exclusive managing broker-dealer.
Is the property leveraged, and who is the lender?
Yes, it carries debt. Baker 1031 reports a $20,445,000 interest-only loan on the property, meaning the balance is not amortized down during the term and comes due in full at maturity. No source reviewed for this profile names the lender, states the interest rate or gives the maturity date; the loan summary and sources-and-uses table in the PPM are the controlling documents on all of those points. Debt matters to a 1031 exchanger because replacement debt may be needed to match debt retired on the relinquished property.
What did the Trust pay for the building?
Baker 1031 reports a net purchase price of $36,602,215 on an off-market acquisition. The sources reviewed do not identify the seller or the date the property closed, and the SEC Form D — a short notice of a private placement — records the offering, not the real estate transaction. The PPM's sources-and-uses and acquisition-fee disclosures set out how the purchase price, loan proceeds, equity and fees fit together.
Why does the SEC record look different from the sponsor's announcement?
A Form D is a short notice an issuer files when it sells securities under a private-placement exemption. It captures a snapshot at filing and is refreshed only when the issuer files an amendment. This Trust has one Form D on record, filed in January 2026 at launch, with no amendment reflecting the July 2026 sponsor-side reports that the offering was fully subscribed and closed. The federal file and the sponsor's marketing record differ simply because nobody has updated the former.
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. Baker 1031's description of this building — warehouse and office space, 12 loading docks, a trucking terminal and 583 parking spaces on about 47.82 acres — fits a single occupier's delivery operation, which is one reason re-tenanting is a standard subject of diligence. Building specifications, condition reports and any environmental review are described in the PPM.
Chapter 9Secure Properties Fully Subscribes Debut DST, Launches Second Seeking $28.6MSecure Properties fully subscribed its first Delaware statutory trust, Secure Net Lease Industrial I, DST (a $21.93M offering launched in late January 2026), and simultaneously launched a second, larger $55.4M vehicle, Secure Net Lease Industrial II, DST, seeking $28.6M in equity anchored by a GE Aviation-leased industrial facility, with Orchard Securities as managing broker-dealer for both. Secure Properties Launches DST Platform, Closes First Net-Lease Industrial DealSecure Properties launched the Secure Real Estate Exchange DST platform and closed its first deal, the Secure Net Lease Industrial I, DST, on a 123,000-square-foot industrial facility in Tallahassee, Florida net leased to a publicly traded investment-grade e-commerce tenant.