San Antonio, TX – February 19, 2010 – (RealEstateRama) — USAA Real Estate Company announced the sale of the Reckitt Benckiser Distribution Center in Tooele County, Utah to real estate advisory firm American Realty Capital (ARC). The transaction closed for an undisclosed price. John Sedar with the Sacramento-based Palmer Team represented USAA Real Estate Company in the transaction.
The Reckitt Benckiser warehouse facility is located in Phase One of Miller Motorsports Business Park, a 900-acre newly developed industrial and commercial-use site which is only a short commute from Salt Lake City. USAA Real Estate Company, along with co-developer Greenfield Builders, Inc., acquired 37 acres of land in Tooele County in April 2009 for the development of the 574,106-square foot distribution center. Reckitt Benckiser, a global presence in the manufacturing, marketing and sale of household, cleaning and specialty food products took occupancy in October.
New York-based American Realty Capital also recently purchased Home Depot Distribution Facilities in Topeka, Kansas and Columbia, South Carolina, both USAA Real Estate Company development projects.
About American Realty Capital
American Realty Capital is advisor to American Realty Capital Trust, a real estate investment trust that invests throughout the United States primarily in freestanding, single-tenant properties, net-leased on a long-term basis to investment grade and other creditworthy tenants. For more information, visit www.americanrealtycap.com
About Greenfield Builders
Greenfield Builders, Inc. is a full service national general contractor specializing in design-build projects ranging in size from 10,000 to over 1,500,000 square feet. The company provides turnkey construction services for all types of projects, including industrial, distribution, manufacturing, commercial, office and retail projects. Greenfield has experienced steady growth due to a reputation for quality, cost efficiency, aggressive construction delivery and customer service. Having constructed millions of square feet of new facilities across the U.S., Greenfield Builders, Inc. provides high quality buildings that meet economic and operational needs
About USAA Real Estate Company
USAA Real Estate Company, with approximately $5 billion 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, multi-family and hotel properties as well as investments in real estate operating companies with annual volume transactions exceeding $3 billion. USAA Real Estate is a subsidiary of USAA, a leading financial services company, serving military families since 1922. For more information, visit www.usrealco.com