Seefried and USAA Real Estate to develop largest speculative Class-A warehouse in DFW Metroplex history

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Dec 14, 2021, 07:00 ET

FORNEY, Texas, Dec. 14, 2021 /PRNewswire/ -- USAA Real Estate and Seefried Industrial Properties have partnered to develop East Gate Logistics Center, a 1,272,240-square-foot, modern Class-A distribution center in Forney, Texas, one of the fastest growing cities in Texas. This new facility will be the largest development of its kind in the history of Dallas-Fort Worth, currently one of the strongest industrial markets in the country.

Rendering of East Gate Logistics Center in Forney, TX.

Forney has seen tremendous growth over the last 24 months, as the industrial base has rapidly expanded to include key logistics facilities for Goodyear, Amazon and other top name companies. These additions led to Forney being named one of the fastest growing cities and school districts in Texas and Kaufman County recently being named the third fastest growing county in America.

East Gate Logistics Center will offer a cost-effective solution to large-scale ecommerce, distribution and manufacturing uses. The site's location provides convenient access to both Interstate 20 and Highway 80, as well as a labor force of over 1.3 million people within a 30-minute drive.

East Gate Logistics Center will include all of the features of a state-of-the-art Class-A logistics facility, such as 40' clear height, on-site trailer queuing, abundant car and trailer parking, multi-tenant capability, ESFR sprinkler system, and more. Located just 20 minutes from downtown Dallas at the intersection of Highway 80 and Gateway Blvd., the project will break ground in 1^st Quarter 2022 and deliver in mid-2023.

Tony Creme and Ann Jaggars with KBC Advisors are leasing the project on behalf of USAA Real Estate and Seefried.

About USAA Real Estate (www.usrealco.com)

With approximately $30 billion in assets under management and 11 global offices, USAA Real Estate is an industry leader in acquiring, developing, financing and managing the highest quality real estate assets in North America and Europe. The mission of USAA Real Estate is to serve the financial interests of its investor clients by strengthening the profitability and diversity of the USAA investment portfolio, which includes multifamily, industrial, office and hotel properties, as well as e-commerce logistics and distribution centers, media production facilities and data centers. Aligned with a series of strategic partnerships cultivated over decades of co-investment, USAA Real Estate engages with preeminent sector leaders demonstrating proven domain expertise in a shared drive to achieve superior, risk-adjusted returns.

About Seefried Properties (www.seefriedproperties.com)

Founded in 1984 by Ferdinand Seefried, Seefried Properties specializes in the development, leasing and management of industrial properties in key markets across the U.S. Seefried leases and manages approximately 40 million square feet for its institutional and European clients and has developed, or is in the process of developing, approximately 190 million square feet of space valued in excess of $15 billion across 50+ markets. Based in Atlanta, the firm has regional offices in Dallas, Chicago, Los Angeles and Phoenix.

SOURCE Seefried Industrial Properties