GTIS Partners LP, a global real estate investment firm managing $4.7 billion in gross assets, announced the acquisition of a 26-acre industrial site in the Great Southwest submarket of the Dallas-Fort Worth metroplex.
The site will be developed in-house as Remington 30, an approximately 442,000-square-foot Class A cross-dock facility that can be split — demised — for leasing flexibility.
The GSW submarket, one of the oldest in the region, faces limited new construction opportunities due to wetlands and scarce land availability.
Remington 30, south of DFW Airport, offers quick access to Interstate 30 and the President George Bush Turnpike, connecting tenants to major corridors and labor markets. Nearby tenants include FedEx, Pepsi Co, Office Depot, Penske, and GE Appliances.
“GTIS is excited to introduce new, Class A product in a premier industrial market with high barriers to entry given the lack of developable land, further illustrated by a limited construction pipeline equal to 1.3% increase to existing inventory,” said Gaurav Sahay, managing director at GTIS Partners, in a statement.
The project, funded by GTIS Opportunity Zone Fund I, marks GTIS’ fifth Texas industrial equity investment and 18th nationally.