USAA Real Estate Company to Develop Distribution Center in Inland Empire, California
WASHINGTON, D.C. – February 13, 2012 – (RealEstateRama) — USAA Real Estate Company announces the acquisition of 26 acres of land in Moreno Valley, California for the immediate development of a 522,772 square foot, state-of-the-art distribution center. Southern California-based Overton Moore Properties will act as developer for the project. Millie and Severson, Inc. will serve as contractor and the architect on the project is HPA, Inc.
Centerpointe Logistics Center will feature 32’ clear height concrete tilt construction, cross-dock configuration and 113 dock positions and 126 trailer storage spaces. The site, located at the northwest corner of Cactus Avenue and Frederick Street, offers convenient access to I-215 and 60 freeways, and will benefit from the demand driven by the Ports of Los Angeles and Long Beach.
“Overton Moore Properties is a proven developer of industrial space throughout the Southern California region, and we look forward to collaborating with their team on an exceptionally designed building in the growing Inland Empire market,” says USAA Chairman and CEO Pat Duncan.
“We are delighted to be part of the development team and look forward to a long term relationship with USAA. The building will fill a needed niche within the marketplace and will be well received from the user base looking for a highly efficient cross dock building,” commented Overton Moore Properties CEO Timur Tecimer.
About Overton Moore Properties
Overton Moore Properties (OMP) is a fully integrated developer and manager of commercial real estate since 1972. The firm has constructed more than 33 million square feet of office, industrial and mixed-use space, and manages more than 6 million square feet of space in Southern California.
About USAA Real Estate Company
USAA Real Estate Company manages a multi-billion dollar portfolio including recent acquisitions of $3 billion and development assets of $2 billion. The company provides co-investment asset management services to U.S. pension funds as well as foreign and domestic institutional investors. USAA Real Estate Company also provides capital to partners for development. The portfolio consists of office, industrial, multi-family, retail and hotel properties as well as investments in real estate operating companies. USAA Real Estate is a subsidiary of USAA, a leading financial services company, serving military families since 1922. For more information, visit www.usrealco.com.
