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GTIS Partners announces land acquisition for new industrial development in Houston
GTIS Partners announced the acquisition of a 26-acre land site to develop a 484,000-square-foot industrial project in the Houston Metropolitan Statistical Area.
The site is in the port-centric Southeast submarket, one of the most in-demand submarkets in Houston. GTIS will develop this project itself in the fourth quarter of 2023 by constructing two buildings, a 355,000-square-foot cross dock and a 129,000-square-foot rear load, totaling 484,000 square feet. The firm will capitalize on the increasing container traffic at the port and the strategic location of the property located along Beltway 8, a key distribution artery for the Houston metro.
"This transaction aligns well with our plans for purposeful expansion in MSAs across the U.S., and we look forward to breaking ground later this year so that we can provide two high-quality properties to future tenants," said Robert McCall, partner and head of U.S. industrial and Brazil acquisitions at GTIS.
In May 2023, G