USAA Real Estate Company Acquires 1.5 Million SF Distribution Warehouse Portfolio

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Sep 05, 2014, 09:00 ET

SAN ANTONIO, Sept. 5, 2014 /PRNewswire/ -- USAA Real Estate Company today announced that one of its strategic investment vehicles acquired a 1,502,922 square foot Class A bulk distribution warehouse portfolio. The portfolio consists of two properties known respectively as I-85 Distribution Center, a 744,000 square foot warehouse located in Union City, Georgia within the South Atlanta submarket, and Dalport Trade Center, a 758,922 square foot warehouse located in Wilmer, Texas within the South Dallas submarket.

Situated just nine miles from Atlanta Hartsfield International Airport and one half mile from major transportation artery Interstate 85, I-85 Distribution Center enjoys a prime location within one of the country's core, inland port markets particularly favored by bulk consumer goods distribution tenants and currently in high demand because of the limited supply of similar quality construction. Within both the South Atlanta submarket and Atlanta itself, the property, developed in 2006 by Panattoni, is considered best-in-class for its modern features that include 32' clear height, cross-docked 620' building depth, ESFR fire suppression, 60' deep speed bays, 185' truck-court depth and ample trailer and auto parking. Sean Boswell and Scott Plomgren of Colliers Atlanta are coordinating the leasing, including the 517,000 square feet available in the building today.

Dalport Trade Center is located directly adjacent to Interstate 45 at Beltline Road, providing it with superb access to the Dallas-Fort Worth metro and beyond. Located within Dalport Industrial Park, Dalport Trade Center is also just 2.5 miles from the Union Pacific Intermodal and 6.5 miles from the FedEx Ground Hub. The building, developed in 2008 by First Industrial, is a state-of-the-art, Class A, cross-docked facility which features 200' deep truck courts, abundant trailer and auto parking, and five points of controlled ingress / egress, making it highly flexible for a variety of tenants. Steve Berger and Steve Koldyke of CBRE Dallas will coordinate the leasing of this fully vacant building.

"This Class A warehouse distribution portfolio provides RealCo an outstanding opportunity to create value for our investors by bringing to bear our deep experience in both our industrial and our asset management capabilities, within two fundamentally strong and active markets. We anticipate continued healthy and sustained demand," commented Len O'Donnell, president and CEO of USAA Real Estate Company.

About USAA Real Estate Company
USAA Real Estate Company, with approximately $12 billion in assets under management, provides co-investment, acquisition, build-to-suit and development services for corporate and institutional investors. The USAA portfolio consists of office, industrial, multi-family, retail and hotel properties as well as investments in real estate operating companies. USAA Real Estate Company is a subsidiary of USAA, a leading financial services company, serving military families since 1922. For more information, visit www.usrealco.com.

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SOURCE USAA Real Estate Company