USAA Real Estate Co. Affiliate Acquires 2.8 Million Square Foot Industrial Portfolio in Atlanta
WASHINGTON, D.C. – October 18, 2012 – (RealEstateRama) — A USAA Real Estate Co. affiliate recently acquired an industrial portfolio, consisting of three Class A bulk distribution warehouses located in major submarkets of Atlanta, Georgia. The 2,798,488-square foot portfolio is 100% occupied by Home Depot USA, Inc., Owens Corning Insulating Systems, LLC and PETCO Animal Supplies Stores, Inc. Each building utilizes modern cross-dock distribution with ESFR sprinklers, T-5 lighting and spacious truck courts and storage.
“The Atlanta Industrial Portfolio offers a unique opportunity to acquire three premier quality distribution facilities within a core inland port market,” says USAA Real Estate Chairman and CEO Pat Duncan. “The portfolio complements USAA’s existing portfolio of industrial assets in Atlanta.”
The PETCO Distribution Center totals 506,200 square feet and is located in Braselton, Georgia, in Atlanta’s I-85 Northeast submarket. The Braselton center serves 10 states as the pet specialty retailer’s Southeast distribution hub.
Home Depot’s Distribution Center in McDonough, Georgia totals 1.2 million square feet. The Owens Corning Distribution Center, with more than 1 million square feet, is located adjacent to the company’s 500,000-square foot manufacturing plant in Fairburn, Georgia. Owens Corning Insulating Systems, LLC, a subsidiary of Owens Corning, Inc. distributes thermal and acoustical insulation products across the southeast U.S.
All of the buildings are located in the largest industrial submarkets in Atlanta and benefit from proximity to the Port of Savannah, one of the nation’s most active export sites.
USAA Real Estate Company, with approximately $12 billion in assets under management, 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. USAA Real Estate Company is a subsidiary of USAA, a leading financial services company, serving military families since 1922. For more information, visit www.usrealco.com.
