SEC FORM D

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM D

Notice of Exempt Offering of Securities

OMB APPROVAL

OMB Number:		3235-0076
Expires:	August 31, 2015
Estimated average burden
hours per response:		4.00

1. Issuer's Identity

CIK (Filer ID Number)

Previous Names

None

Entity Type

0002144551

	Corporation
	Limited Partnership
	Limited Liability Company
	General Partnership
	Business Trust
X	Other (Specify)

Name of Issuer

DX SB Industrial I DST

Jurisdiction of Incorporation/Organization

DELAWARE

Year of Incorporation/Organization

X	Over Five Years Ago
	Within Last Five Years (Specify Year)
	Yet to Be Formed

2. Principal Place of Business and Contact Information

Name of Issuer
DX SB Industrial I DST
Street Address 1		Street Address 2
116 CHESTNUT STREET		SUITE 102
City	State/Province/Country	ZIP/PostalCode	Phone Number of Issuer
RED BANK	NEW JERSEY	07701	732-388-3000

3. Related Persons

Last Name	First Name	Middle Name
Denholtz Wealth Exchange LLC	N/A
Street Address 1	Street Address 2
116 Chestnut Street	Suite 102
City	State/Province/Country	ZIP/PostalCode
Red Bank	NEW JERSEY	07701

Relationship:	X	Executive Officer		Director		Promoter

Clarification of Response (if Necessary):

Sponsor of the Issuer

Last Name	First Name	Middle Name
DX SB Industrial I Manager LLC	N/A
Street Address 1	Street Address 2
116 Chestnut Street	Suite 102
City	State/Province/Country	ZIP/PostalCode
Red Bank	NEW JERSEY	07701

Relationship:	X	Executive Officer		Director		Promoter

Clarification of Response (if Necessary):

Manager and Signatory Trustee of the Issuer

Last Name	First Name	Middle Name
DX SB Industrial I Depositor LLC	N/A
Street Address 1	Street Address 2
116 Chestnut Street	Suite 102
City	State/Province/Country	ZIP/PostalCode
Red Bank	NEW JERSEY	07701

Relationship:	X	Executive Officer		Director		Promoter

Clarification of Response (if Necessary):

Depositor of the Issuer

Last Name	First Name	Middle Name
Denholtz	Steven
Street Address 1	Street Address 2
116 Chestnut Street	Suite 102
City	State/Province/Country	ZIP/PostalCode
Red Bank	NEW JERSEY	07701

Relationship:	X	Executive Officer		Director		Promoter

Clarification of Response (if Necessary):

Chairman

Last Name	First Name	Middle Name
Cassidy	Stephen
Street Address 1	Street Address 2
116 Chestnut Street	Suite 102
City	State/Province/Country	ZIP/PostalCode
Red Bank	NEW JERSEY	07701

Relationship:	X	Executive Officer		Director		Promoter

Clarification of Response (if Necessary):

Managing Partner

4. Industry Group

Agriculture

Banking & Financial Services

Commercial Banking

Insurance

Investing

Investment Banking

Pooled Investment Fund

	Hedge Fund
	Private Equity Fund
	Venture Capital Fund
	Other Investment Fund

Is the issuer registered as
an investment company under
the Investment Company
Act of 1940?

Yes

Other Banking & Financial Services

Business Services

Energy

Coal Mining

Electric Utilities

Energy Conservation

Environmental Services

Oil & Gas

Other Energy

Health Care

Biotechnology

Health Insurance

Hospitals & Physicians

Pharmaceuticals

Other Health Care

Manufacturing

Real Estate

Commercial

Construction

REITS & Finance

Residential

X	Other Real Estate

Retailing

Restaurants

Technology

Computers

Telecommunications

Other Technology

Travel

Airlines & Airports

Lodging & Conventions

Tourism & Travel Services

Other Travel

Other

5. Issuer Size

Revenue Range
	No Revenues	No Aggregate Net Asset Value
	$1 - $1,000,000	$1 - $5,000,000
	$1,000,001 - $5,000,000	$5,000,001 - $25,000,000
	$5,000,001 - $25,000,000	$25,000,001 - $50,000,000
	$25,000,001 - $100,000,000	$50,000,001 - $100,000,000
	Over $100,000,000	Over $100,000,000
X	Decline to Disclose	Decline to Disclose
	Not Applicable	Not Applicable

6. Federal Exemption(s) and Exclusion(s) Claimed (select all that apply)

Rule 504(b)(1) (not (i), (ii) or (iii))

Investment Company Act Section 3(c)

Section 3(c)(1)

Section 3(c)(9)

Section 3(c)(2)

Section 3(c)(10)

Section 3(c)(3)

Section 3(c)(11)

Section 3(c)(4)

Section 3(c)(12)

Section 3(c)(5)

Section 3(c)(13)

Section 3(c)(6)

Section 3(c)(14)

Section 3(c)(7)

Rule 504 (b)(1)(i)

Rule 504 (b)(1)(ii)

Rule 504 (b)(1)(iii)

Rule 505

Rule 506(b)

Rule 506(c)

Securities Act Section 4(a)(5)

7. Type of Filing

X	New Notice			Date of First Sale	2025-11-18				First Sale Yet to Occur
	Amendment

8. Duration of Offering

Does the Issuer intend this offering to last more than one year?

Yes

9. Type(s) of Securities Offered (select all that apply)

X	Equity	Pooled Investment Fund Interests
	Debt	Tenant-in-Common Securities
	Option, Warrant or Other Right to Acquire Another Security	Mineral Property Securities
	Security to be Acquired Upon Exercise of Option, Warrant or Other Right to Acquire Security	Other (describe)

10. Business Combination Transaction

Is this offering being made in connection with a business combination transaction, such as a merger, acquisition or exchange offer?

Yes

Clarification of Response (if Necessary):

11. Minimum Investment

Minimum investment accepted from any outside investor

$100,000

USD

12. Sales Compensation

Recipient

Recipient CRD Number

None

Peter Marzo

4716444

(Associated) Broker or Dealer

None

(Associated) Broker or Dealer CRD Number

None

Metric Financial, LLC

33324

Street Address 1

Street Address 2

1180 West Peachtree St. NW

Suite 1910

City

State/Province/Country

ZIP/Postal Code

Atlanta

GEORGIA

30309

State(s) of Solicitation (select all that apply)
Check “All States” or check individual States

All States

Foreign/non-US

Recipient

Recipient CRD Number

None

Ryan Finch

6379871

(Associated) Broker or Dealer

None

(Associated) Broker or Dealer CRD Number

None

Emerson Equity, LLC

130032

Street Address 1

Street Address 2

9250 E Costilla Avenue

Suite 105

City

State/Province/Country

ZIP/Postal Code

Greenwood Village

COLORADO

80112

State(s) of Solicitation (select all that apply)
Check “All States” or check individual States

All States

Foreign/non-US

Recipient

Recipient CRD Number

None

Lawrence Karp

7807108

(Associated) Broker or Dealer

None

(Associated) Broker or Dealer CRD Number

None

1031 Securities, Inc.

326590

Street Address 1

Street Address 2

Boca Mizner Park, 433 Plaza Real

Suite 275

City

State/Province/Country

ZIP/Postal Code

Boca Raton

FLORIDA

33432

State(s) of Solicitation (select all that apply)
Check “All States” or check individual States

All States

Foreign/non-US

Recipient

Recipient CRD Number

None

Eugene Ma

7607199

(Associated) Broker or Dealer

None

(Associated) Broker or Dealer CRD Number

None

FNEX Capital, LLC

166316

Street Address 1

Street Address 2

2958 Columbia St

City

State/Province/Country

ZIP/Postal Code

Torrance

CALIFORNIA

90503

State(s) of Solicitation (select all that apply)
Check “All States” or check individual States

All States

Foreign/non-US

Recipient

Recipient CRD Number

None

Reed Haimson

5533993

(Associated) Broker or Dealer

None

(Associated) Broker or Dealer CRD Number

None

Great Point Capital, LLC

114203

Street Address 1

Street Address 2

200 West Jackson Blvd.

Suite 1000

City

State/Province/Country

ZIP/Postal Code

Chicago

ILLINOIS

60606

State(s) of Solicitation (select all that apply)
Check “All States” or check individual States

All States

Foreign/non-US

Recipient

Recipient CRD Number

None

Skyler Stokes

6225303

(Associated) Broker or Dealer

None

(Associated) Broker or Dealer CRD Number

None

Emerson Equity, LLC

130032

Street Address 1

Street Address 2

120 Birmingham Drive

Suite 250B

City

State/Province/Country

ZIP/Postal Code

Cardiff

CALIFORNIA

92007

State(s) of Solicitation (select all that apply)
Check “All States” or check individual States

All States

Foreign/non-US

Recipient

Recipient CRD Number

None

Sid Jain

2306031

(Associated) Broker or Dealer

None

(Associated) Broker or Dealer CRD Number

None

Emerson Equity, LLC

130032

Street Address 1

Street Address 2

155 Bovet Road

Suite 725

City

State/Province/Country

ZIP/Postal Code

San Mateo

CALIFORNIA

94402

State(s) of Solicitation (select all that apply)
Check “All States” or check individual States

All States

Foreign/non-US

Recipient

Recipient CRD Number

None

Bradley Wetherby

7617059

(Associated) Broker or Dealer

None

(Associated) Broker or Dealer CRD Number

None

Realta Equities, Inc.

23769

Street Address 1

Street Address 2

29122 Rancho Viejo Road

Suite 111

City

State/Province/Country

ZIP/Postal Code

San Juan Capistrano

CALIFORNIA

92675

State(s) of Solicitation (select all that apply)
Check “All States” or check individual States

All States

Foreign/non-US

Recipient

Recipient CRD Number

None

Thomas Olsen

7338381

(Associated) Broker or Dealer

None

(Associated) Broker or Dealer CRD Number

None

FNEX Capital, LLC

166316

Street Address 1

Street Address 2

2958 Columbia St

City

State/Province/Country

ZIP/Postal Code

Torrance

CALIFORNIA

90503

State(s) of Solicitation (select all that apply)
Check “All States” or check individual States

All States

Foreign/non-US

Recipient

Recipient CRD Number

None

William LaPiana

4580411

(Associated) Broker or Dealer

None

(Associated) Broker or Dealer CRD Number

None

Ausdal Financial Partners, Inc.

7995

Street Address 1

Street Address 2

1430 Broadway, 21st Floor

Suite 100

City

State/Province/Country

ZIP/Postal Code

New York

NEW YORK

10018

State(s) of Solicitation (select all that apply)
Check “All States” or check individual States

All States

Foreign/non-US

Recipient

Recipient CRD Number

None

Benjamin Carmona

5120428

(Associated) Broker or Dealer

None

(Associated) Broker or Dealer CRD Number

None

Realta Equities, Inc.

23769

Street Address 1

Street Address 2

29122 Rancho Viejo Road

Suite 111

City

State/Province/Country

ZIP/Postal Code

San Juan Capistrano

CALIFORNIA

92675

State(s) of Solicitation (select all that apply)
Check “All States” or check individual States

All States

Foreign/non-US

13. Offering and Sales Amounts

Total Offering Amount

$18,539,860

USD

Indefinite

Total Amount Sold

$10,463,897

USD

Total Remaining to be Sold

$8,075,963

USD

Indefinite

Clarification of Response (if Necessary):

Regarding Item 11, the Issuer may accept smaller investments in the Sponsor?s sole discretion.

14. Investors

Select if securities in the offering have been or may be sold to persons who do not qualify as accredited investors, and enter the number of such non-accredited investors who already have invested in the offering.

Regardless of whether securities in the offering have been or may be sold to persons who do not qualify as accredited investors, enter the total number of investors who already have invested in the offering:

15. Sales Commissions & Finder's Fees Expenses

Provide separately the amounts of sales commissions and finders fees expenses, if any. If the amount of an expenditure is not known, provide an estimate and check the box next to the amount.

Sales Commissions

$1,761,287

USD

Estimate

Finders' Fees

USD

Estimate

Clarification of Response (if Necessary):

Sales Commissions include estimates of the maximum amount of Selling Commissions, Managing Broker-Dealer Fees, Wholesaling Fees and Marketing/Due Diligence Expense Allowances that may be paid out of Offering proceeds.

16. Use of Proceeds

Provide the amount of the gross proceeds of the offering that has been or is proposed to be used for payments to any of the persons required to be named as executive officers, directors or promoters in response to Item 3 above. If the amount is unknown, provide an estimate and check the box next to the amount.

$781155

USD

Estimate

Clarification of Response (if Necessary):

Item 16 is an estimate of offering expenses and acquisition/facilitation fees that may accrue to one or more Related Persons.

Signature and Submission

Please verify the information you have entered and review the Terms of Submission below before signing and clicking SUBMIT below to file this notice.

Terms of Submission

In submitting this notice, each issuer named above is:

Notifying the SEC and/or each State in which this notice is filed of the offering of securities described and undertaking to furnish them, upon written request, in the accordance with applicable law, the information furnished to offerees.*

Irrevocably appointing each of the Secretary of the SEC and, the Securities Administrator or other legally designated officer of the State in which the issuer maintains its principal place of business and any State in which this notice is filed, as its agents for service of process, and agreeing that these persons may accept service on its behalf, of any notice, process or pleading, and further agreeing that such service may be made by registered or certified mail, in any Federal or state action, administrative proceeding, or arbitration brought against it in any place subject to the jurisdiction of the United States, if the action, proceeding or arbitration (a) arises out of any activity in connection with the offering of securities that is the subject of this notice, and (b) is founded, directly or indirectly, upon the provisions of: (i) the Securities Act of 1933, the Securities Exchange Act of 1934, the Trust Indenture Act of 1939, the Investment Company Act of 1940, or the Investment Advisers Act of 1940, or any rule or regulation under any of these statutes, or (ii) the laws of the State in which the issuer maintains its principal place of business or any State in which this notice is filed.

Certifying that, if the issuer is claiming a Rule 505 exemption, the issuer is not disqualified from relying on Rule 505 for one of the reasons stated in Rule 505(b)(2)(iii) or Rule 506(d).

Each Issuer identified above has read this notice, knows the contents to be true, and has duly caused this notice to be signed on its behalf by the undersigned duly authorized person.

For signature, type in the signer's name or other letters or characters adopted or authorized as the signer's signature.

Issuer	Signature	Name of Signer	Title	Date
DX SB Industrial I DST	/s/Stephen Cassidy	Stephen Cassidy	Auth Signatory of the Mgr & Signatory Ttee of the Issuer	2026-07-13

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.

* This undertaking does not affect any limits Section 102(a) of the National Securities Markets Improvement Act of 1996 ("NSMIA") [Pub. L. No. 104-290, 110 Stat. 3416 (Oct. 11, 1996)] imposes on the ability of States to require information. As a result, if the securities that are the subject of this Form D are "covered securities" for purposes of NSMIA, whether in all instances or due to the nature of the offering that is the subject of this Form D, States cannot routinely require offering materials under this undertaking or otherwise and can require offering materials only to the extent NSMIA permits them to do so under NSMIA's preservation of their anti-fraud authority.