With corporate offices in Atlanta, Boston, Dallas, New York, and San Francisco, GID is an experienced real estate private equity investor and manager supported by an integrated operating platform and has 60+ years of experience across multiple asset classes. GID's existing and under-development properties are valued at over $26.7 billion as of March 31, 2022. GID is a privately held, vertically-integrated real estate company that owns and operates a portfolio of multifamily and industrial assets, as well as develops mixed-use projects. To learn more about GID Industrial, visit gid.com/industrial. Offering a variety of suite sizes and locations, these assets allow GID to offer an array of leasing options to existing and potential tenants in the market. GID Industrial recently acquired two additional centers in the North Las Vegas area, Nellis Industrial Park and SunPoint Commerce Center. GID specializes in supplying end-of-life industrial products.
The building has a single suite and four doors with an average clear height of 28 feet. 1218 Executive Drive West Richardson, TX 75081 GID specializes in supplying end-of-life industrial products. This investment marks GID’s fourth acquisition in Las Vegas this year. The building is 100 percent leased to a credit tenant and has a 3-year average lease term. GID has announced that it has added over 27,000 square feet to its industrial portfolio with the acquisition of 4530 Calimesa. This acquisition marks the company's fourth investment in the region this year.
Follow on Twitter.LAS VEGAS, J/PRNewswire/ - GID Industrial announced today that it has acquired 4530 Calimesa, an infill warehouse totaling 27,309 square feet located in the North Las Vegas submarket. Mike Orr, a senior vice president at SunCap, said in a statement that the leasing “velocity” for that complex gives the firm confidence that its new project with GID will be highly sought-after real estate.Ĭontact Eli Segall at or 70.
#GID INDUSTRIAL UPDATE#
One of many projects unveiled last year was by SunCap, which announced plans in February 2021 for a six-building, 730,000-square-foot industrial complex in North Las Vegas with partner Diamond Realty Investments.Įfforts to get an update on that project from SunCap were unsuccessful Monday. “We’re seeing unprecedented demand,” Cushman & Wakefield broker Donna Alderson said.Īlderson noted that she has worked in industrial real estate since 1986 and has never seen this kind of appetite for such properties. Southern Nevada’s industrial vacancy rate shrank to just 2.3 percent at the end of last year, the lowest since Colliers began keeping records in 1999, the firm said. Almost all of that consisted of warehouse and distribution space, and most of it was in North Las Vegas, brokerage Colliers International reported. Southern Nevada’s yearslong warehouse-construction boom has only ramped up since the pandemic hit, as the coronavirus outbreak sparked an accelerated shift to online shopping that has fueled demand for distribution buildings.ĭevelopers finished 6.2 million square feet of industrial projects in Southern Nevada last year. Michael Wenaas, chief investment officer at GID Industrial, said in a release that with strong leasing “fundamentals” and record-low vacancy, Las Vegas “is a natural fit for our growing industrial portfolio.” The land, at the northeast corner of Cheyenne Avenue and Commerce Street, sold for $20 million, brokerage Cushman & Wakefield announced, saying it represented SunCap in the deal and was hired to lease out the project.Ĭonstruction of the project, called SunPoint Commerce Center, is expected to start this summer, GID said. More than a year after it unveiled plans for a warehouse project in North Las Vegas, a North Carolina developer is pushing ahead with another one in the city.Ĭharlotte-based SunCap Property Group teamed up to acquire 26 acres with plans for a two-building, 467,000-square-foot industrial complex, according to a news release last week from project partner GID.
Real estate firms SunCap Property Group and GID teamed up to acquire 26 acres in North Las Vegas, seen above, with plans for a 467,000-square-foot industrial complex.
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