SAN ANTONIO--USAA Real Estate Co. (RealCo) has acquired a 1,502,922-square-foot Class A bulk distribution warehouse portfolio consisting of two properties: I-85 Distribution Center in the southern Atlanta, Georgia, submarket and Dalport Trade Center in the South Dallas submarket.
“Both the Atlanta I-85 Distribution Center and the Dallas Dalport Trade Center are outstanding investment opportunities,” said Len O'Donnell, president and CEO of USAA Real Estate Co., to GlobeSt.com. “These are two superior quality, state-of-the-art warehouse constructions that enjoy very favorable market positions within active and increasingly tightening markets/submarkets.”
Dalport Trade Center, a 758,922-square-foot warehouse located in Wilmer, Texas, is situated adjacent to Interstate 45 at Beltline Road. Located within Dalport Industrial Park, Dalport Trade Center is 2.5 miles from the Union Pacific Intermodal and 6.5 miles from a FedEx Ground Hub. The building, developed in 2008 by First Industrial, is a Class A, cross-docked facility which features 200-foot deep truck courts, abundant trailer and auto parking and five points of controlled ingress/egress. Steve Berger and Steve Koldyke of CBRE Dallas will coordinate the leasing of this fully vacant building.
“USAA is repositioning the asset through a thorough make-ready effort to cater to full building, standalone tenants or smaller tenants down to the 140,000-square-foot range, which is an underserved space size in the South Dallas submarket,” said Koldyke, first vice president at CBRE. “Its location…makes it a good fit for a variety of light industrial and distribution uses.”
Approximately nine miles from Atlanta Hartsfield International Airport and one-half mile from Interstate 85 and located in Union City, I-85 Distribution Center has a prime location within one of the country's core, inland port markets, which is particularly favored by bulk consumer goods distribution tenants. The 744,000-square-foot warehouse was developed in 2006 by Panattoni, and is considered best-in-class for its modern features that include 32-foot clear height, cross-docked 620-foot building depth, ESFR fire suppression, 60-foot deep speed bays and 185-foot truck-court depth. Sean Boswell and Scott Plomgren of Colliers Atlanta are coordinating the leasing, including the 517,000 square feet available in the building currently.
"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,” O'Donnell added. “We anticipate continued healthy and sustained demand."
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
