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

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Canadian investment trust ramps up San Antonio industrial buys with Schertz FedEx facility

9929-9943 Doerr Ln.

9929-9943 Doerr Ln.

It has been a busy week in terms of investment activity in San Antonio, and a recent FedEx facility industrial acquisition is the next in line.

As part of an eight-property portfolio that is 100 percent leased to the transportation and shipping heavyweight, Canadian investment trust Pure Industrial Real Estate Trust (PIRET) has secured $98.8 million in financing to acquire the facility at 9929 and 9943 Doerr Lane in Schertz, Texas.
Information about the seller was not disclosed.

The portfolio totals nearly 1.5 million square feet in California, Florida, Illinois, New Jersey and Texas. In addition to the Schertz center, the portfolio includes a FedEx facility in Pflugerville. The Schertz property contributes 202,763 square feet of space to the portfolio.

Built in 2014, the Schertz logistics facility is a Class-A property within two miles of the new 1.2 million-square-foot Amazon fulfillment center. When FedEx signed the lease for the facility earlier this year, it provided a hefty boost to the greater San Antonio area industrial market.

Click to read entire article: Canadian investment trust ramps up San Antonio industrial buys with Schertz FedEx facility (San Antonio Business Journal, 06-18-15)

 

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