Green Courte Partners Develops Industrial Storage Facility
Green Courte Partners Expands Industrial Operations
Green Courte Partners, LLC, a prominent private equity real estate investment firm, is making significant strides in the industrial sector. With its recent acquisition of a strategically positioned land development site, the firm is set to enhance its portfolio and tap into the growing demand for industrial outdoor storage.
Site Location and Planned Development
The newly acquired site at 1191 North Foster Road is located in a booming logistics hub that has shown steady growth. This site is ideally situated, just less than a mile from an I-10 interchange, making it an attractive option for logistics operators.
Concept and Features of the Facility
Green Courte intends to develop this property into a state-of-the-art industrial outdoor storage (IOS) facility. This initiative will feature managed truck storage alongside leasing space to IOS users on a triple-net basis. By allowing for flexible leasing options, the facility aims to meet the diverse needs of its clients while facilitating efficient operations.
Timeline for Construction
The construction of this facility is expected to commence shortly, with plans for completion in the first half of 2025. Under the management of GCP Truck Storage Management, the project is positioned to deliver high-quality service to users. The operational efficiencies implemented by this management team will allow for smooth transitions and enhanced customer satisfaction.
Statements from Leadership
In discussing the acquisition, Jordan Kerger, Managing Director at Green Courte, emphasized the strategic importance of this development. He noted that this acquisition is a valuable addition to their expanding IOS portfolio, reinforcing their commitment to building industry-leading facilities.
Currey Hall, another Managing Director and President of GCP TSM, shared his enthusiasm for the project, highlighting the versatility of the site. His remarks on the ideal location underscored the site's potential to cater to various logistics needs and demonstrate robust market appeal.
Seller's Perspective
Matt McWilliams, who was involved in the transaction, expressed satisfaction with the sale process, praising Green Courte's professionalism and efficiency in closing the deal. This positive interaction indicates a strong foundation of trust and operational integrity that can benefit future collaborations.
About Green Courte Partners
Green Courte Partners, LLC is based in Chicago and focuses on active investments in niche real estate markets. Their portfolio includes properties in various sectors such as active-adult/independent senior living, land-lease communities, and, notably, industrial outdoor storage facilities. With a disciplined approach combined with targeted investment strategies, Green Courte aims to generate attractive risk-adjusted returns.
Frequently Asked Questions
What is Green Courte Partners focusing on with this acquisition?
Green Courte Partners is developing an industrial outdoor storage facility to enhance its portfolio and meet increasing demand for logistics space.
When is construction expected to start?
Construction is set to begin shortly and is estimated to be completed by the first half of 2025.
Where is the site located?
The site is located at 1191 North Foster Road, close to a key logistics hub near an I-10 interchange.
Who is managing the facility?
The facility will be managed by GCP Truck Storage Management, a wholly owned operating platform of Green Courte.
What sectors does Green Courte Partners invest in?
Green Courte Partners invests in various real estate sectors, including active-adult living, land-lease communities, and industrial outdoor storage facilities.
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