The subject is a $227,500$ square foot $($SF$)$ distribution warehouse built in $2023.$ It is located in a privately developed industrial park with good highway access. $10\%$ of the space is finished office. The balance is warehouse. There are $90$ loading docks. It has $40$ X $40$ column spacing and $28$ ceilings. The building was leased in $2023$ for $15$ years $(14$ years remaining$)$ to Amazon at $$7\mathrm{.}00/$SF triple net $($tenant pays expenses$)$ with $10\%$ rent increases every $5$ years. The tenant has $4,5-$year options to renew at a $10\%$ increase of the previous year$$s rent.

In addition to other data points, an analyst is considering the following information in order to determine the value of the property by Sales Comparison.

Improved Sale $1$

Sold $6-15-2023$

Built in $2021$

Location: Planned municipally developed industrial park with good highway access

$250,000$ SF with $8\%$ office finish

$86$ loading docks, $40$ X $40$ column spacing, and $30$ ceilings

Tenant Profile: Owner occupied by a local trucking company $($no lease$)$

Improved Sale $2$

Sold $1-23-2023$

Built in $2006$

Location: Planned municipally developed industrial park with good highway access

$150,000$ SF with $20\%$ office finish

$40$ docks, $40$ X $20$ column spacing, and $26$ ceilings

Tenant profile: Leased for $20$ years $(18$ years remaining$)+$ multiple options at $$7\mathrm{.}50/$Sf triple net to Wal$-$Mart for a distribution center

Which of these two sales is most comparable to the investment the analyst is valuing? On the surface, they both appear to be industrial buildings which is presumably the same highest and best use as the subject. What locational, fiscal, and financial issues $($if any$)$ should the analyst consider when comparing these two assets to the subject?