USAA SELLS NET-LEASE RETAIL PORTFOLIO TO INLAND
SAN ANTONIO AND OAK BROOK, ILL. — San Antonio-based USAA Estate Co. has sold its Single Tenant Net Lease Retail Portfolio to Oak Brook-based The Inland Real Estate Group of Companies for an undisclosed amount. The portfolio consists of 16 properties totaling 118,046 square feet.
The properties are located in 15 markets throughout the U.S. including Orlando, Pensacola, Port St. Lucie and Tampa Fla.; Atlanta; Minneapolis; St. Louis; Charlotte, N.C.; Portland, Ore.; Columbia, S.C.; Dallas, Fort Worth, Houston and San Antonio, Texas; and Milwaukee. The tenant list for the properties includes AT&T, Bank of America, Capital One Bank, CVS/pharmacy, Verizon and Walgreens.
John Hammill and Ken Shulman of Dallas-based Capview Partners represented USAA in the deal. Inland did not utilize outside representation.
“These assets have been outstanding investments for our company during our holding period and should represent an excellent investment for Inland,” said Pat Duncan, chairman and CEO of USAA, in a statement.
— Coleman Wood