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USAA Sells 5M-SF Portfolio

SAN ANTONIO-USAA Real Estate Co. sells its bulk industrial product – including assets in Houston, Pennsylvania and Southern California -- to Duke Realty.

By Amy Wolff Sorter | Updated on June 17, 2013

SAN ANTONIO-USAA Real Estate Co., based here, has sold its eight-building, 4.9-million-square-foot bulk industrial portfolio to Duke Realty. With its buy, the Indianapolis-based REIT now owns a critical mass of bulk industrial product in high-growth, major supply chain markets across the United States.

The Class A portfolio is 100 percent leased to 10 tenants with an in-place, stable net operating income. The buildings were constructed between 2001 and 2008. Top-tier tenants include Home Depot, Clorox Co., Kimberly-Clark, Jo-Ann Stores, Sears, Walgreen Company and others.

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