Treadways Distribution Center Is Acquired By US Industrial REIT II
July 16, 2007 - San Antonio, TX
US Industrial REIT II purchased the Treadways Corporation Distribution Center, a 454,272 square foot bulk distribution center located on 22 acres in Southhaven, MS on July 16, 2007. US Industrial REIT II is owned by affiliates of USAA Real Estate Company and other institutional investors. The property was purchased from J.P Morgan. The transaction’s purchase price was not disclosed.
The building is 100% leased to Treadways Corporation., one of the largest marketers of private brand tires. From this location, the company markets tires by major manufacturers such as Goodyear and Cooper Tire under brand names including Laramie, Jetzon, Eldorado and Sumitomo. The property is strategically located only 6 miles from the Memphis International Airport, the Federal Express Hub and within ½ mile of I-55. The transaction was marketed by Greg Power of Power Realty.
USAA Real Estate Company has more than $3.4 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 $1billion. USAA Real Estate is a subsidiary of USAA, which has been serving military families since 1922 and has become one of America’s leading financial services companies. The association, well known for its exceptional service, offers its 6 million members a comprehensive range of insurance, banking and investment products and services designed to help them meet their financial needs. Headquartered in San Antonio, Texas, with offices throughout the United States and Europe, USAA owns or manages assets of more than $113 billion.