[IMGCAP(1)]FORT WORTH-A USAA Real Estate Co.-led partnership isready to park a 428,400-sf distribution center in the 633-acreRailhead Industrial Park as it ramps up a build-out strategy to addone, maybe two, buildings per year. The estimated $17-millionproject is the partnership's first construction in 18 months.

USAA Real Estate Co. bought the park's controlling interest inDecember 2004 from local developer, Railhead Properties Inc.,creating Zephyr Rail Industrial LP as the owner of record.“Clearly, the dynamics of the industrial market require product tobe in place to meet delivery requirements for corporate America,”David Buck, managing director of San Antonio-based USAA, tellsGlobeSt.com. “As we see some leasing velocity on this project,we'll move forward on the next building. I can't envision at leastputting one building on the ground each year.” And, he adds, ifleasing velocity lives up to his expectations then “I think it'sgoing to be that we'll double up.”

Ticketed for an August delivery, the 30-foot clear heightstructure will sit on about 18 acres at the intersection ofRailhead Road and Loop 820 in North Fort Worth. The building iscoming out as spec. “There are some opportunities floating aroundthe market,” Buck says. “”Based on the vacancy rate, deals that arefloating and whispers, I feel we'll have it leased upon delivery.”He says the most likely scenario is building will end up with twotenants. The dual rail-served structure is divisible to 70,000 sf.The quoted rate has yet to be set.