Frito-Lay Distribution - Norton, VA

FRITO-LAY/ PEPSICO – Frito-Lay, a division of PepsiCo, Inc., continues to lead the national snack industry with renowned brands such as Lay’s, Doritos, Fritos, Cheetos, Tostitos, Sun Chips, and Ruffles. In 2024, Frito Lay North America (FLNA) reported net revenue of $24.75 billion, accounting for approximately 27% of PepsiCo’s total net revenue of $91.85 billion. PepsiCo’s operating profit for 2024 was $12.89 billion, with FLNA contributing $6.32 billion, representing approximately 49% of the total operating profit. PepsiCo maintains a strong credit rating, with S&P Global Ratings assigning an A+ rating and Moody’s Investors Service affirming an A1 rating with a stable outlook. Established in 1898, PepsiCo was formed through the merger of Frito-Lay and Pepsi-Cola in 1965.
NEW CONSTRUCTION / FUNCTIONAL INDUSTRIAL – This distribution warehouse serves as a Product Exchange Center for Frito-Lay/ PepsiCo as a ±7,653 square foot building on ±2.373 acres of land (7.40% Building/Lot Coverage). Featuring 7 docks and abundant yard space for truck loading and parking – this property is a highly functional building while also maintaining the ability to further expand the facility with additional square footage in the future.
LONG TERM LEASE / ANNUAL RENT INCREASES – PepsiCo Global Real Estate, Inc. has ±7.50 years remaining on their Industrial NNN lease featuring annual rent increases allowing a strong hedge against inflation.
STRATEGIC LOCATION – Norton is situated in Southwest Virginia, providing a strategic position to serve markets in the Appalachian region and beyond. Its proximity to major highways and transportation networks facilitates efficient logistics and distribution such as:
East/West: U.S. Route 58 connects from Harrogate, TN through Norton and Danville ending in Norfolk/Virginia Beach.
North/South: US 23 begins in Jacksonville, FL and connects through Atlanta, GA; the Tri-Cities region of TN; Norton, VA; Kentucky (“Country Music Highway”); Columbus, OH; and ending in Michigan.

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Kyle Matthews