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KETTLEMAN CITY, CALIF. – An 89,880-square-foot freight terminal in Kettleman City that is triple-net leased to FedEx Corporation has sold to a buyer that was completing a 1031 Exchange for $21.4 million. The freestanding terminal is located at 33104 25th Ave. about halfway between Los Angeles and San Francisco. The facility was completed earlier this year. It carries a 29-year absolute triple-net lease that is guaranteed by FedEx. The unnamed seller was represented by John Glass of Marcus & Millichap’s San Francisco office.