REOC San Antonio
Commercial Real Estate Since 1974   
Kim_Gatley
Kim Gatley
S
enior Vice President & Director of Research at REOC San Antonio

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FedEx’s Canadian landlord expanding SA industrial footprint

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FedEx landlord buys 16 acres adjacent to Schertz facility.

PIRET — based in Vancouver, BC — is under contract for the 16 acres adjacent to the FedEx facility at 9929 and 9943 Doerr Lane as part of the REIT’s long-term goal of refocusing its core assets through new acquisitions and dispositions. The deal is expected to close sometime this quarter and will be worth an estimated $2.8 million.

FedEx accounts for more than 24.5 percent of PIRET’s rental income, with the 202,763-square-foot property in the San Antonio area as one of a number of properties the shipping company leases from the REIT.

It’s unconfirmed whether the additional land will be developed to accommodate a FedEx expansion. Last year, the REIT expanded its industrial facility in Barrington, NJ for the carrier.

The additional land — which is currently vacant — will boost the REIT’s footprint to more than 40 acres in the San Antonio area.

Click here to read the full article: FedEx’s Canadian landlord expanding SA industrial footprint

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