Thank you for sharing!

Your article was successfully shared with the contacts you provided.

TRACY, CA-AMB Property Corp. of San Francisco has sold a net-leased 657,600-square-foot distribution facility here to US Industrial REIT III, an affiliate of San Antonio, TX-based USAA Real Estate Co. Home Depot occupies the new building on a 15-year lease.

Completed in December 2008, the Home Depot “Rapid Deployment Center” is located adjacent to Interstate 205 in the 1400 block of E. Pescadero Avenue. The facility is part of the company’s 2008-2009 conversion from de-centralized to regional distribution. It will service approximately 100 stores in Northern California and the Pacific Northwest.

The purchase price was not revealed by the parties involved and was not otherwise immediately available, though one local source tells GlobeSt.com he heard the cap rate on the transaction was 7.8%. AMB says the year-to-date capitalization rate for its asset sales is approximately 8.5%.

The listing broker was the Sacramento-based Palmer Team, which declined comment. In October, Palmer sold a 450,000-square-foot, single-tenant net-leased distribution facility in nearby Stockton for $53 per square foot.

The US Industrial REIT III portfolio consists of large scale bulk industrial properties across the continental United States. During its first quarter conference call in April, AMB Property Corp. said it had $220 million worth of assets under contract for sale or scheduled for contribution in 2009.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.