US Industrial REIT II Purchases 1251 Port Road In A Suburb Of Louisville
September 18, 2007 - San Antonio, TX
On September 18, US Industrial REIT II added 1251 Port Road, a 532,400 square foot Class A bulk distribution center, located in Jeffersonville, IN to its portfolio. The property was purchased from UBS Realty Investors, LLC. US Industrial REIT II is owned by affiliates of USAA Real Estate Company and other institutional investors. The transaction’s purchase price was not disclosed.
The property is 100% occupied by General Electric Company and GE Parts, LLC which is the home appliance division of General Electric and supplies the entire United States from this distribution center. The property, which was built in 1998 and located on 33 acres, is expandable by an additional 106,480 square feet. The property’s location within the Clarke Maritime Centre, an 830,000 acre intermodal industrial party, also has the potential to be rail-served by CSX.
The property is well-located off I-265, only 3 miles from I-65 and 20 miles from the Louisville International Airport and the UPS WorldHub. The transaction was marketed by John Huguenjard of the Indianapolis Colliers Office.
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.