Provident Expands Industrial Footprint with Northpoint Sale
Provident Completes Sale of Northpoint 35 Phase 1
Provident Industrial, a significant part of a prominent Dallas-based real estate development firm, has successfully finalized the sale of Phase 1 of the Northpoint 35 Industrial Park. This development highlights Provident's commitment to expanding its industrial footprint.
An Overview of Northpoint 35
Located at 1203 Reuthinger Parkway, Northpoint 35 is situated within a thriving industrial area. The project consists of a metal maintenance building totaling 10,000 square feet, alongside 32 acres of land that accommodates 919 trailer parking stalls. This significant sale marks a notable achievement in Provident's development strategy.
Details on the Sale
Phase 1 of the Northpoint 35 development was sold to Alterra IOS, a company that focuses on industrial outdoor storage facilities. This transaction took place in March and demonstrates the increasing demand for industrial properties that can accommodate logistics and storage needs.
The Leadership Behind the Project
The Northpoint 35 development was directed by Christen Vestal, the Director at Provident’s Houston office, supported by Senior Analyst Titus Jefferies. Their expertise and guidance played a crucial role in the successful execution of this project.
Growing Industrial Portfolio
Provident's growth trajectory in the industrial sector is remarkable, with 8.2 million square feet currently under construction or in pre-development across various states including Texas, Arizona, and the Carolinas. This expansion indicates the company's strategic plans to diversify and enhance its industrial holdings.
Catalyst for Future Projects
The sale of Northpoint 35 Phase 1 is not only a financial milestone for Provident but also serves as a catalyst for future developments. By continuing to invest in industrial real estate, Provident aims to leverage emerging market trends and fulfill the evolving needs of their clients and partners.
About Provident
Founded in 1991, Provident has been a leading player in the real estate and investment landscape, adeptly navigating various market cycles. The firm emphasizes risk-adjusted returns through value-add strategies and opportunistic development projects. With over $5.9 billion invested in real estate initiatives, Provident demonstrates a robust commitment to growth and innovation. For additional information, visit www.providentrealty.net.
Frequently Asked Questions
What is Northpoint 35?
Northpoint 35 is an industrial park located in Texas, developed by Provident Industrial and comprises a 10,000 square foot maintenance building along with extensive trailer parking facilities.
Who bought Phase 1 of Northpoint 35?
Phase 1 was sold to Alterra IOS, which specializes in industrial outdoor storage facilities.
What is Provident's involvement in real estate?
Provident is a privately held real estate and investment firm focusing on opportunistic development and providing exceptional returns to investors.
How large is Provident's industrial portfolio?
Currently, Provident has 8.2 million square feet under construction or in pre-development across several states.
When did Provident start operating?
Provident was founded in 1991 and has since grown significantly in the real estate sector, adapting to various market conditions.
About The Author
Contact Owen Jenkins privately here. Or send an email with ATTN: Owen Jenkins as the subject to contact@investorshangout.com.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.
