San Antonio, TX, October 16, 2007 – Texas-based USAA Real Estate Co. through its affiliate, Zephyr Rail Industrial, L.P., has announced that they are breaking ground on a 428,400 square foot distribution facility. The building is located in Railhead Industrial Park, a 633-acre Master Planned Industrial Park located in North Fort Worth. The development is bisected by North Loop 820 offering many development opportunities immediately North and South of the Freeway.
The new building is a state of the art, ESFR, tilt wall, front load distribution facility and divisible to as small as 70,000 square foot users. It is designed to have 30’ clear ceiling height, 52’ x 45’ interior column spacing with 60’ X 52’ column spacing at the docks, ample truck courts of 130’ deep, on-site trailer storage and dual-rail service available. A CB Richard Ellis Group, Inc. team, lead by Dave Anderson, has been engaged to market the property to potential tenants.
Railhead Properties, Inc., under the direction of Abbie Greer and Pat Cornell, will manage the day-to-day development responsibility. Ridgemont Commercial Construction has been awarded the construction of the project. Groundbreaking is set to occur in October 2007 and completion is expected August 2008.
Railhead Park is a rail neutral development with users having a cost advantage in choosing Burlington Northern Santa Fe and Union Pacific rail providers running alternating service times throughout each day. Union Pacific rail lines border the Park to the west and one of Burlington Northern Santa Fe’s major NAFTA rail operations yards borders the Park to the east, providing users the opportunity for one-day rail service car switching.
USAA Real Estate Co. has more than $3.5 billion of assets under management and provides co-investment, acquisition, and development services for corporate and institutional investors. The USAA portfolio consists of industrial, office, office medical, retail, multi-family, and hotel properties as well as investments in real estate operating companies. USAA Real Estate is a subsidiary of USAA, which has been serving military families since 1922 and has become one of America’s leading financial services companies.