USAA Real Estate Company has sold 16 of its properties in a Single Tenant Net Lease Retail Portfolio. An affiliate of The Inland Real Estate Group of Companies, Inc. purchased the portfolio for an undisclosed amount.
The 16 properties in the portfolio total 118,046 square feet and are leased to tenants from several well-known companies, including Bank of America, Walgreens, Capital One Bank, Applebee’s, Verizon, Taco Bell, Dollar General, and AT&T. The properties are located in areas across the united states, including Missouri, North and South Carolina, Georgia, Minnesota, Wisconsin, Florida, and Texas.
"These assets have been outstanding investments for our company during our holding period and should represent an excellent investment for Inland," says USAA Chairman and CEO Pat Duncan.
USAA Real Estate Company is a subsidiary of USAA, a Fortune 500 financial services company that has served U.S. military families since 1922. USAA has approximately 8 million members and $6 billion in assets. USAA provides co-investment, acquisition, build-to-suit and development services for institutional and corporate investors. In its portfolio are retail, multi-family, and hotel properties.
The Inland Real Estate Group of Companies, INc. is one of the leading commercial real estate service providers in the United States, with specializations in auctions, brokerage, financing, education, and acquisitions. Inland has 40 years of experience in real estate investment trusts and offers leasing services for multifamily, office, retail, and industrial clients.