Walgreen’s Waxhachie Distribution Center Purchased By US Industrial REIT II
September 25, 2007 - San Antonio, TX
US Industrial REIT II purchased the 326,585 square foot Class A bulk distribution center, located in Waxhachie, TX to its portfolio on September 25, 2007. The property was purchased from First Industrial. 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 was built in 2006 and then further expanded earlier in 2007. The property is located adjacent to another 650,000 square foot Walgreen’s facility. These facilities are approximately 30 miles south of Dallas on U.S Highway 77 north, which runs parallel to I-35, making this location ideal for these distribution centers which serve approximately 600 Walgreen’s stores throughout Texas, Louisiana and Oklahoma. The transaction was marketed by Jack Fraker of the Dallas office of CB Richard Ellis.
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.