- Friday, December 11, 2015
Seefried Industrial Properties Developing Southfield Park
USAA Real Estate Company and Seefried Industrial Properties have partnered on the development of Southfield Park in Dallas, Texas. The master planned industrial business park will cover 154 acres and will include four buildings.
Building one, the largest industrial building in Dallas, is a 1.1-million-square-foot spec building and was completed in April 2015. The building was sold in December 2015.
Building two is a 733,200-square-foot spec building, currently under construction with a target completion date of May 2016. Southwest Moulding, a wood product supplier of home improvement stores, will lease approximately 60 percent of building two, initially adding around 75 jobs to the area.
Building three, 297,265 square feet, was built-to-suit and was completed in October 2015. Serta Dormae, an independent manufacturer of Serta-brand mattresses, purchased building three to produce and distribute mattresses to the region and will have approximately 200 employees.
Building four, still in the planning stages, will be a build-to-suit building spanning 177,320 square feet.
"Southfield is strategically located in a great location for regional distribution, with direct access to I-20 and I-35, two major interstate highways," said Jonathan Stites, senior vice president of the Texas region for Seefried Industrial Properties. "With multiple paths of ingress and egress from the site with improved road systems, this development is ideal for tenants with e-commerce, distribution or warehouse requirements."
Stites and Douglas Otte make up the Seefried team on the project and USAA Real Estate Company is the owner.
About Seefried Industrial Properties
Seefried Industrial Properties was founded in 1984 by Ferdinand Seefried and is 100 percent privately owned. Seefried focuses on industrial development in core markets and build-to-suits with corporate tenants and users in first and second-tier markets. It leases and manages approximately 23 million square feet for its institutional and European clients. Seefried's development, construction, leasing, property management and accounting teams firmly believe that client relationships are solidly built on trust and further developed by each individual experience. Seefried is based in Atlanta, with regional offices in Los Angeles, Dallas/Fort Worth, Chicago and Phoenix.
About USAA Real Estate Company
USAA Real Estate Company, with approximately $12 billion in 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, multi-family, retail and hotel properties as well as investments in real estate operating companies. USAA Real Estate Company is a subsidiary of USAA, a leading financial services company, serving military families since 1922. For more information, visit www.usrealco.com