Dallas, TX 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, made known the fee simple acquisition of a 17-acre site to develop a 272,000 s/f 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 Hwy. 121, I-635, State Hwy. 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. “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, said “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 made public the acquisition of a 26-acre site to develop a 484,000 s/f 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.