US Industrial REIT II Purchases 5810 Trade Center Court in Atlanta, GA
June 14, 2007 - San Antonio, TX
US Industrial REIT II purchased 5810 Trade Center Court, a 399,500 square foot distribution facility in Atlanta GA from the Panattoni Development Company on June 1st. The transaction’s purchase price was not disclosed.
The building is located in the I-20 West/Fulton Submarket of Atlanta equidistance to downtown and Hartsfield-Jackson Atlanta International Airport. This newly completed facility is 100% leased to the Southwire Company whose headquarters is only 17 miles away. A technology leader, Southwire Company is North America’s largest wire and cable manufacturer. Its products include utility cable products, building wire and cable, metal-clad (MC) cable, cord products, industrial power cable, copper and aluminum rod and continuous casting technology. Panattoni Development Company was represented by the Atlanta team of Colliers Investment Services Group on the transaction.
US Industrial REIT II is owned by affiliates of USAA Real Estate Company and other institutional investors. USAA Real Estate Company has more than $3 billion of assets under management and provides co-investment, acquisition, build-to-suit and development services for corporate and institutional investors. The USAA portfolio consists of office, industrial, retail and hotel properties as well as investments in real estate operating companies with an annual volume of transactions in excess of $1 billion.