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Kim Gatley
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enior Vice President & Director of Research at REOC San Antonio

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USAA Real Co. sells Amazon-leased fulfillment center in Schertz to California investor

Amazon_FulfillmentFew knew San Antonio-based USAA Real Estate Co. was the ownership behind the 1.26 million-square-foot fulfillment center leased to Amazon.com Inc., and it has stayed under the radar throughout the facility’s quiet sale to an industrial investor out of Manhattan Beach, California.

Circle Industrial, a newcomer to the San Antonio market, has acquired the single-tenant property at 6000 Schertz Parkway in Schertz, Texas, which USAA Realco developed for the internet giant several years ago. The value of the sale was not disclosed.

According to Guadalupe County filings, the sale closed in late June. The property has been appraised at $5.33 million — likely far, far below what Circle paid for it.

The San Antonio real estate investment trust — which has built industrial facilities for Amazon (NYSE: AMZN) across the country — closed on the 96.06-acre property and put up the capital to both build and own the warehouse, which the internet company signed on to lease for 15 years.

Click here to read the full article: USAA Real Co. sells Amazon-leased fulfillment center in Schertz to California investor San Antonio Business Journal 8-18-2016

 

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