Exeter Property Group Acquires San Antonio Distribution Center
- Aug 12, 2020
Exeter Property Group has acquired Foster Ridge Distribution Center, a 327,000-square-foot industrial building in San Antonio. The property was purchased from Koontz Corp.
The seller and developer broke ground on the property in May 2018 and delivered it in roughly 18 months. Voya Financial and Catlyn Capital Corp. provided the construction financing. R.C. Page served as the general contractor for the Powers Brown Architecture-designed project. The facility features four ramps, 32-foot clear heights, 75 dock-level doors, 130-foot truck courts and ESFR sprinklers.
The industrial warehouse occupies a 21-acre parcel at 6611 Lancer Blvd., close to Interstate 10, which also provides access to Interstate 410. Downtown San Antonio is 11 miles west. Additionally, the property is proximate to a $100 million, 930,000-square-foot Dollar General Distribution Center, the retailer’s first facility in Texas.
JLL Managing Director Trent Agnew negotiated the deal on behalf of the seller. Exeter Property Group was represented in-house. In July, the company paid $18 million for an industrial portfolio encompassing 240,358 square feet across four properties in Fairless Hills, Pa. A partnership between Endurance Real Estate Group and Thackeray Partners sold the assets.