PHOENIX-A joint venture between Seefried Industrial Properties Inc. and USAA Real Estate Company has recently bought 38 acres of land in west Phoenix for $6 million with plans to construct a speculative industrial facility there. Seefried and USAA are expecting to start construction on the $30-million project next month and deliver an approximately 600,000-square-foot distribution facility by May 2013.
The project, named the Estrella Logistics Center, will be built near Buckeye Road and 63rd Avenue. Jones Lang LaSalle represented the buyers in the deal. For the full story, go to Phoenix Business Journal .
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