DALLAS, Oct. 17, 2023 /PRNewswire/ — GTIS Partners (“GTIS”), a global real estate investment firm managing $4.5 billion in gross assets with a U.S. focus on residential and industrial/logistics investments, today announced the fee simple acquisition of a 17-acre land site to develop a 272,000 SF industrial warehouse in the Dallas Fort Worth (DFW) Airport submarket.
The location represents one of the last remaining developable sites in the DFW Airport submarket and provides strategic access to State Highway 121, I-635, State Highway 114, and I-35. The DFW Airport submarket serves as the center of the DFW industrial market allowing for distribution to multiple parts of the DFW metroplex and proximity to rooftops and key labor hubs.
“We are excited to announce the acquisition of this property in the highly desirable DFW Airport submarket,” said Robert McCall, Partner and Head of U.S. Industrial and Brazil Acquisitions at GTIS. He added, “This project represents a unique opportunity for us to develop a Class A industrial warehouse space in a prime location. We look forward to adding the development to our growing portfolio of industrial assets across Texas and throughout the U.S.”
Gaurav Sahay, Managing Director of Industrial and Logistics at GTIS, stated: “Acquiring this site in the DFW Airport submarket will allow our future tenants to pull from a strong, diverse labor pool given its central location and connectivity to Highway 121 and I-635. This is a strategic investment for our U.S. industrial portfolio and is consistent with our desire to invest in submarkets that continue to show strong demand and have high barriers to entry. We look forward to commencing construction early next year.”
Construction of the new industrial warehouse is expected to start in March 2024. The acquisition further demonstrates the expansion of GTIS’ industrial portfolio across the U.S. In May, GTIS announced the acquisition of a 26-acre land site to develop a 484,000 SF industrial project in the Houston MSA. The firm’s industrial portfolio recently reached $1 billion with the acquisition and leasing of two industrial warehouse properties located in Nashville, TN and Charlotte, NC.
About GTIS Partners
GTIS Partners is a global real estate investment firm in the Americas, headquartered in New York with offices in São Paulo, San Francisco, Los Angeles, Atlanta, Charlotte, Phoenix, Dallas, Houston and Munich. The firm was started in 2005 and is managed by President and Founder Tom Shapiro and seven other partners. The firm manages $4.5 billion in gross assets and is active across a wide range of real estate sectors including single family and multifamily housing, office, industrial/logistics and hospitality as well as opportunity zone investments. The firm invests at various points in the capital structure including credit, common equity and structured equity. In the US, GTIS has invested in over 200 assets across 40+ unique markets including growth areas such as Phoenix, Dallas, Houston, Denver, Atlanta, Tampa and Charlotte. In Brazil, GTIS is among the largest real estate private equity firms with holdings including office, residential, logistics, and hospitality investments. Marquee assets developed by GTIS Partners in São Paulo include the Infinity office building and Palácio Tangará, a five-star resort style hotel. For more information, please visit www.gtispartners.com.
SOURCE GTIS Partners
Originally published at https://www.prnewswire.com/news-releases/gtis-partners-expands-1-billion-industrial-portfolio-with-acquisition-of-land-for-development-of-a-warehouse-in-dallas-301958505.html
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