{"id":1004564320,"date":"2022-01-21T06:56:20","date_gmt":"2022-01-21T14:56:20","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004564320"},"modified":"2022-12-08T09:00:56","modified_gmt":"2022-12-08T17:00:56","slug":"usaa-real-estate-lands-82m-for-amazon-build-to-suit","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/usaa-real-estate-lands-82m-for-amazon-build-to-suit\/","title":{"rendered":"USAA Lands $82M for Amazon Build-to-Suit"},"content":{"rendered":"

 <\/span><\/p>\n

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Image by marcinjozwiak via Pixabay<\/p><\/div>\n

USAA Real Estate<\/strong> has made strides in the development of Beaumont Crossroads II, a 2.8 million-square-foot logistics park in Beaumont, Calif. The company received $81.6 million in construction financing from Regions Bank<\/strong> for the development of one of the park\u2019s two facilities, according to County of Riverside records. <\/span><\/p>\n

JLL Capital Markets<\/strong> helped structure the two-year, floating-rate, non-recourse loan. The build-to-suit, 816,000-square-foot distribution center is triple-net-leased to an investment-grade tenant. According to CommercialEdge data, the facility will serve as an Amazon<\/strong> fulfillment center.<\/span><\/p>\n

USAA Real Estate is developing Beaumont Crossroads II in a joint effort with McDonald Property Group<\/strong>. Building 2\u2014subject to the recent financing\u2014will take shape on 58.7 acres at <\/span>36900 W. Fourth St.,<\/span> adjacent to Building 1, a nearly 1.8 million-square-foot warehouse slated for delivery in the second quarter of 2023. <\/span><\/p>\n

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READ ALSO<\/strong>: Why REITs Outperformed in 2021: Nareit<\/a><\/p>\n

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Construction has already started at Building 2 with the completion date yet to be announced. Development plans call for 40-foot clear heights, 48 dock-high doors and two grade-level doors. The facility will offer 447 parking spaces and 296 trailer stalls, and will be fitted with ESFR fire protection.  <\/span><\/p>\n

The new campus is within a mile of Crossroads Logistics Center, another distribution center USAA Real Estate completed in recent years in partnership with McDonald Property Group. The park <\/span>includes a 720,000-square-foot Wolverine Worldwide warehouse delivered in 2019 and a 2.6 million-square-foot Amazon fulfillment center at 1010 West 4th St. completed in 2020.<\/span><\/p>\n

Beaumont Crossroads II is located just off US Route 60, a short distance from Interstate 10 and some 90 miles from the Ports of Long Beach and Los Angeles.<\/span><\/p>\n

Investors gravitate toward Amazon<\/span><\/h2>\n

According to a 2021 Lee & Associates<\/strong> report, the Amazon lease at Beaumont Crossroads II was among the largest Inland Empire transactions by square footage in the third quarter of last year, after Lecangs<\/strong>‘ 1.2 million-square-foot lease<\/a> agreement with Duke Realty Corp.<\/strong> for an industrial facility in Perris, Calif. <\/span><\/p>\n

Despite a slowdown in online commerce growth in the last quarter of 2021, the sector continues to drive demand for industrial property. In the two years since the pandemic began, Amazon closed a series of deals that nearly doubled its fulfillment network<\/a>. In November of last year, the e-commerce giant announced plans to open five distribution centers in Minnesota and Alabama, adding more than 3.3 million square feet to its footprint.<\/span><\/p>\n

Meanwhile, Amazon-leased buildings are selling for nine-digit numbers. Last week, Van Trust Real Estate<\/strong> pocketed $103.5 million<\/a> for the sale of a 1 million-square-foot Amazon fulfillment center in Jacksonville, Fla., while i<\/span>n December last year, Hudson Pacific<\/strong> paid $119 million for a 197,000-square-foot office building in Seattle leased entirely to Amazon.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The logistics center is part of a 2.8 million-square-foot campus.<\/p>\n","protected":false},"author":1366,"featured_media":1004564330,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,21825,21748,1594,21742,15],"tags":[44006,38112,44930],"class_list":["post-1004564320","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-finance","category-industrial","category-los-angeles","category-latest","category-west","tag-jll-capital-markets","tag-regions-bank","tag-usaa-real-estate"],"acf":[],"yoast_head":"\nUSAA Lands $82M for Amazon Build-to-Suit - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"JLL Capital Markets helped secure a $81.6 million construction loan for a distribution center USAA Real Estate is developing for Amazon.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/usaa-real-estate-lands-82m-for-amazon-build-to-suit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"USAA Lands $82M for Amazon Build-to-Suit\" \/>\n<meta property=\"og:description\" content=\"JLL Capital Markets helped secure a $81.6 million construction loan for a distribution center USAA Real Estate is developing for Amazon.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/usaa-real-estate-lands-82m-for-amazon-build-to-suit\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-21T14:56:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T17:00:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/01\/Image-by-marcinjozwiak-via-Pixabay-e1642696517700.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1704\" \/>\n\t<meta property=\"og:image:height\" content=\"1276\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ioana Muresan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/usaa-real-estate-lands-82m-for-amazon-build-to-suit\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/usaa-real-estate-lands-82m-for-amazon-build-to-suit\/\",\"name\":\"USAA Lands $82M for Amazon Build-to-Suit - 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