EL PASO,
Texas, Sept. 10, 2024 /PRNewswire/
-- Provident Industrial, a division of Dallas-based Provident, is proud to announce
the successful sale of Building III at Gateway Logistics Park to
EQT Exeter, a prominent global real estate owner and operator. EQT
Exeter, the real estate division of EQT, is recognized for its
extensive portfolio, which includes logistics and industrial
properties, along with residential and office/life sciences
properties spanning North and South
America, Europe, and
Asia.
Building III marks the third phase of Gateway Logistics Park's
development, following the sale of Buildings I & II in late
July. Located at 1800 Vindale Road, Building III includes 345,394
square feet of industrial space with 36-foot clear heights, 59 dock
doors, and 2 ramp doors. Phase III also includes a separately gated
trailer staging area with 98 trailer spaces, bringing the total
trailer parking capacity to 173.
Positioned just east of Buildings I & II, Building III has
excellent connectivity with access to Loop 375 and is conveniently
located 7.5 miles north of the Ysleta-Zaragoza Port of Entry in
Juarez, Mexico. This location
enhances the site's appeal to tenants engaged in cross-border
logistics and distribution operations.
Construction was completed in August, led by general contractor
Harvey-Cleary and construction manager Pritchard Associates. As the
third phase of Gateway Logistics Park, Building III was developed
through a partnership between Provident, WestStar Bank, and
Singerman Real Estate. Provident's Managing Director Case Van Lare
and Chris Martin, Director of
Southwest Industrial Development & Acquisitions, spearheaded
the project. Reflecting on the El
Paso industrial market, Chris
Martin stated, "Our investment in El Paso was driven by our recognition of the
secular trends of nearshoring and reshoring. We've witnessed
significant growth in the region as companies relocate to this
market. We're excited to see Exeter continue their success and
further expand their presence at Gateway Logistics Park."
Provident has significantly expanded its industrial portfolio,
with 7.9 million square feet currently under construction or in
pre-development across Texas,
Arizona, and the Carolinas, over
the past three years.
About Provident
Provident is a privately held real estate and investment firm
with over three decades of experience and multiple market cycles.
Since 1991, Provident has developed or invested in more than
$5.9 billion worth of real estate
nationwide. For more information, please visit
www.providentrealty.net.
Media Contact: Chris Martin,
cmartin@providentrealty.net
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SOURCE Provident Realty Advisors, Inc.