GTIS Partners LP acquired a 26-acre industrial site in the Great Southwest submarket in the Dallas Fort Worth, Texas, MSA. GTIS will develop in-house an approximately 442,000-square-foot Class-A cross dock facility that can be demised to provide leasing flexibility to prospective tenants.
The development, also known as Remington 30, is centrally located in the GSW industrial submarket, one of the oldest submarkets in the metroplex with limited land available for new construction given its age and the presence of wetlands. Remington 30 sits south of the Dallas Fort Worth Airport and provides quick access to I-30, a primary east/west thoroughfare connecting Dallas and Fort Worth, and President George Bush Turnpike (PGBT) Toll Road, a major north/south artery that provides access to the northeast residential markets as well as other major arteries such as I-20.
High-quality tenants including FedEx, Pepsi Co, Office Depot, Penske, and GE Appliances are located nearby Remington 30 as, amongst other drivers, its location provides access to the strong Dallas Fort Worth labor pool.
Remington 30 will target the bulk segment (defined as 250,000-500,000 SF) of the industrial market, where demand for newer product remains strong in GSW. The eight bulk buildings in the GSW submarket that delivered between 2018-2023, representing 2.8 million SF, have 0% vacancy. The bulk product segment has outperformed the submarket with positive net absorption over the last 12 months.
