USAA Real Estate sells Tooele center

Published: Saturday, Feb. 20 2010 12:00 a.m. MST

USAA Real Estate Co. said Friday it has sold the Reckitt Benckiser distribution center in Tooele County to real estate advisory firm American Realty Capital Trust.

Financial terms were not disclosed by the companies. However, Broad Street Advisors, based in New York City, said Friday it arranged the acquisition financing for the deal for American Realty and said it was in the form of a loan of about $15 million.

The facility is in Phase One of the Miller Motorsports Business Park.

USAA, along with co-developer Greenfield Builders Inc., based in Indianapolis, acquired 37 acres in April 2009 for the development of the 574,106-square-foot distribution center. Reckitt Benckiser — involved in the manufacturing, marketing and sale of household, cleaning and specialty food products — took occupancy in October and is leasing the facility for 12 years.

American Realty Capital is based in New York. USAA is based in San Antonio.

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