San Antonio 244,500-SF piece of the pie in five-property purchase

​SAN ANTONIO – As part of a five-property portfolio deal,
Industrial Property Trust’s acquisition of an East San Antonio distribution
center is what some are hoping indicates the city’s market is attracting more
institutional investors.

The Denver-based industrial real estate investment trust
recently closed on the 244,510-sf facility at 1610 Cornerway Blvd., marking its
first step into San Antonio’s industrial market.

The Class A property—which spans 18.3 acres—was sold along
with four other facilities in Houston, Dallas, Oklahoma City and Louisville,
comprising a total of 1 million sf.

All five properties were acquired through a
sale-leaseback transaction with Victory Packaging, which will remain the sole
tenant for each facility.