Gramercy Property Trust Buys 17-Building Industrial Portfolio Across 8 States
San Antonio-based USAA Real Estate Co sold the North American Logistics Portfolio to New York-based Gramercy Property Trust. CBRE’s national partners repped USAA. Nine properties across eight states make up the 10.2M SF portfolio. The 17 Class-A distribution buildings are 97% occupied.
The assets include the 527k SF Trade Avenue in Dallas; the 1.2M SF 2801 Airwest and Plainfield Distribution Center in Indianapolis; the 607k SF Fermi Drive Industrial in Vallejo-Fairfield, Calif.; the 521k SF 260 and 280 Pioneer in Sacramento; the 2.5M SF Stateline Bldg F, Stateline Bldg H, Chickasaw Bldg D and Chickasaw Bldg G in Memphis; the 1.4M SF Port Union A, Port Union H, Cummins Distribution Center in Cincinnati; the 1.8M SF Interstate South Bldg 4 and Clorox BTS in Atlanta; the 1.1M SF TBC Distribution Center in Charleston; and the 470k SF GE Distribution Center in Jacksonville, Fla. Major tenants include Rite Aid, Clorox Manufacturing Co and Whirlpool.