GTIS Partners Expands Industrial Presence with New Project
GTIS Partners Unveils New Industrial Development
GTIS Partners LP, a prominent real estate investment firm, has made a significant move by acquiring a 26-acre industrial site within the Great Southwest submarket. This strategic acquisition is aimed at developing a state-of-the-art 442,000 square foot Class A cross-dock facility, designed to offer flexibility for future tenants.
Location Advantage and Development Highlights
The newly named Remington 30 project is located in one of the most sought-after industrial zones, characterized by its historical significance and ongoing demand. This submarket, known as GSW, has limited available land for new projects, which further heightens the value of this investment. Positioned just south of a major airport, Remington 30 benefits from quick connections to essential highways, facilitating transportation and distribution.
Robust Demand in a Competitive Market
Recent trends show a high demand for new industrial products in GSW, particularly for bulk facilities ranging between 250,000 to 500,000 square feet. In fact, the eight bulk buildings developed in the area from 2018 to 2023 have demonstrated an impressive 0% vacancy rate, highlighting the strength of market demand. This outperformance underscores the need for modern facilities, such as the one GTIS is set to deliver.
Strategic Vision and Future Plans
“We are thrilled to bring new Class A offerings to a premier industrial market where entry barriers are high due to scarce developable land,” said Gaurav Sahay, Managing Director at GTIS Partners. The new site will be part of a Qualified Opportunity Zone, making it an attractive investment for the GTIS Opportunity Zone Fund I, which aspires to uplift undercapitalized areas across the country through targeted investments.
GTIS Partners: A Legacy of Industrial Investments
This initiative marks GTIS Partners’ fifth industrial equity investment in the Texas region and the eighteenth across the United States. To date, the firm has invested in approximately 11 million square feet of industrial space across various markets, with a total project cost exceeding $1.3 billion. Their ongoing commitment to the industrial sector reflects a robust growth trajectory.
About GTIS Partners
GTIS Partners is a global real estate investment firm founded in 2005, headquartered in New York. With a diverse portfolio spanning multiple sectors including residential, industrial, and hospitality, GTIS manages assets worth $4.7 billion across various markets. Their strategic investments extend into high-growth areas across the U.S. and Brazil, making them a key player in the real estate investment landscape.
Media Contacts for GTIS Partners
For more information, media inquiries can be directed to Mary Beth Grover or Keely Gispan at ASC Advisors. They can be reached at (203) 992-1230 or via email at mbgrover@ascadvisors.com or kgispan@ascadvisors.com.
Frequently Asked Questions
What is the significance of the Remington 30 project?
The Remington 30 project represents a strategic investment in a high-demand industrial sector, providing modern facilities in a limited land market.
Why focus on the Great Southwest submarket?
The Great Southwest submarket offers a uniquely desirable location with established access to transport routes and a robust labor pool, making it ideal for industrial development.
How does GTIS Partners plan to finance this project?
The project will be financed through the GTIS Opportunity Zone Fund I, which focuses on development in undercapitalized areas.
What historical background does GTIS Partners have?
Founded in 2005, GTIS Partners has an extensive history and experience in diverse real estate sectors, managing significant assets globally.
What are the future plans for GTIS Partners?
GTIS intends to continue expanding its industrial investments, focusing on areas with strong demand and limited inventory.
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