Seefried Properties and USAA Real Estate acquire 19 acres, plan logistics center in Northern California

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.