- Tuesday, November 23, 2021
- Visalia, CA
News Release: Seefried Properties, USAA Real Estate Begin Construction on 1 MSF Distribution Center in Visalia, California
VISALIA, Calif., Nov. 23, 2021 /PRNewswire/ -- The Phoenix office of Seefried Industrial Properties, along with capital partner USAA Real Estate, announce construction has commenced on a new warehouse and distribution center for a major hardware retailer, as part of the Visalia Industrial Park (VIP) in Visalia, CA. The Fortune 500 hardware corporation will lease a new 1,033,500-square-foot building when construction is complete in the fourth quarter of 2022.
"We were fortunate to find a site that could accommodate this requirement due to the continued growth of the Visalia industrial market and overall region," said Jason Quintel, Senior Vice President of Seefried. "In an effort to meet the client's operational directive, we worked side by side with the City of Visalia to ensure timelines could be met. It was and has been a great experience working with the City's economic development, planning, engineering, and building staff through this process and we are excited to deliver a first-class facility in the fourth quarter of 2022 for this client."
Located at 2045 N. Plaza Drive, the new distribution center is being developed on an 81-acre site that USAA and Seefried assembled through the acquisition of two parcels in Q3 2021. The project will be best-in-class and will feature 155 dock-high doors (four grade-level) in a cross-dock configuration, oversized truck courts that are up to 140 feet deep, ample parking, +/- 20,000 square feet of office space and a minimum clear height of 40 feet. Off-site improvements will include construction of a new private road along the southern portion of the project site to provide access to the remaining land to the south, which is intended for future development, unrelated to the project, as well as a secondary access for trucks and emergency vehicles.
Clayco is the general contractor, teaming with architect Lamar Johnson Collaborative and Kimley-Horn engineering.
About Seefried Industrial Properties:
Founded in 1984 by Ferdinand Seefried, Seefried Industrial Properties specializes in the development, leasing and management of industrial real estate in key markets across the U.S. Seefried leases and manages approximately 40 million square feet for its institutional and European clients and has developed, or is in the process of developing, approximately 190 million square feet of space valued in excess of $17 billion across 120+ markets. Based in Atlanta, the firm has regional offices in Dallas, Chicago, Los Angeles and Phoenix. For more information, please visit www.seefriedproperties.com
About USAA Real Estate:
With more than $29 billion in assets under management and 11 global offices, USAA Real Estate is an industry leader in acquiring, developing, financing and managing the highest quality real estate assets in North America and Europe. The mission of USAA Real Estate is to serve the financial interests of its investor clients by strengthening the profitability and diversity of the USAA investment portfolio, which includes multifamily, industrial, office and hotel properties, as well as e-commerce logistics and distribution centers, media production facilities and data centers. Aligned with a series of strategic partnerships cultivated over decades of co-investment, USAA Real Estate engages with preeminent sector leaders demonstrating proven domain expertise in a shared drive to achieve superior, risk-adjusted returns. For more information, visit www.usrealco.com