(Tracy, Calif.) (January 3, 2023) – Seefried Properties, a national real estate firm specializing in the development of industrial properties, along with capital partner and real estate investment manager, USAA Real Estate, have recently acquired a 19-acre site for the development of a new distribution warehouse in the heart of Tracy’s Northeast Industrial submarket. The project is scheduled to break ground in the fourth quarter of 2023 and will include a state-of-the-art speculative building totaling 335,157 square feet of office and warehouse space.
“The opportunity to acquire one of the last remaining sites in the east Tracy submarket was too good to pass up,” said Jason Quintel, Senior Vice President of Seefried’s Western Region. “With historically low vacancy and high tenant demand for the area, we believe this project will be in a great position to capture that demand and bring another quality business and project to the City of Tracy.”
The proposed project is strategically located at the northwest corner of Grant Line Road and Chrisman Road, offering easy access to all major transportation arterials including I-205, I-5, I-580 and HWY 99. The industrial site offers close proximity to both the Union Pacific and Burlington Northern Santa Fe Intermodal facilities and is ±54 miles east of the Port of Oakland and ±65 miles south of Sacramento. Located along ideal transportation corridors to the Western US & Bay Area, Tracy is considered the best distribution location in the Central Valley.
As a nationally recognized developer of industrial space, Seefried plans to include Class A industry leading specifications on the new project including ample auto and trailer parking, 36-foot clear heights, ESFR sprinklers, and LED warehouse and site lighting to meet the needs of modern industrial users.
The Colliers team of Mike Goldstein and John Steinbuch represented the partners in the land transaction and will handle leasing efforts on behalf of the project. HPA Architecture is serving as the project’s architect of record; Kier & Wright is the civil engineer.
About Seefried Properties:
Founded in 1984 by Ferdinand Seefried, Seefried Properties is a privately held real estate firm that focuses on the development, leasing, and management of industrial properties across the United States. The firm primarily focuses on development in core industrial markets and build-to-suits with tenants in core and second-tier markets. Seefried leases and manages approximately 25 million square feet for its institutional and European clients and has developed over 200 million square feet of space valued in excess of $18 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:
Along with its affiliate companies, USAA Real Estate invests across the risk spectrum for a global client base, managing over $35 billion in net assets under management within a diversified portfolio across North America and Europe. USAA Real Estate provides strategic equity and debt capital, including to capitalize on the accelerating demand for technology-driven real estate assets, to meet the critical need for housing solutions, and for other market and capital structure opportunities exhibiting compelling risk-return characteristics. For more information, visit www.usrealco.com
