Industrial property

GTIS Partners Announces $140 Million South Carolina Proprietary Joint Venture with Collett Industrial

NEW YORK, August 3, 2022 /PRNewswire/ — GTIS Partners (“GTIS”), a global real estate investment firm that manages $4.7 billion of raw assets with a focus on residential and industrial investments, today announced a joint venture with Collett Industrial (“Collett”), an industrial developer headquartered in CharlotteNC, to acquire and develop two projects in the GreenvilleSpartanburg (“GSP”) MSAs which have a total capitalization of $140 million. One of the projects, Willimon Business Park, has signed leases or letters of intent with tenants totaling approximately 520,000 square feet for long-term occupancy of the project.

The GSP development projects, which will total nearly 1.2 million square feet of industrial space upon completion, are located directly adjacent to each other in the same opportunity zone at the east end of the South Carolina Technology & Aviation Center (“SCTAC”). SCTAC is one of the largest business parks in Caroline from the south and houses the operations of more than 110 companies.

The new projects are centrally located on the east coast, providing better access around GreenvilleSouth of Charleston and Atlantaand north to Charlotte, Raleigh and Durham. The demand in the GSP industrial market is supported by a diverse set of factors including high labor availability, proximity and connectivity to Port of Charleston and Inland Port Greer, and the long history of manufacturing in the region.

“Fueled by the continued growth of e-commerce and relocation, demand for industrial warehouses remains strong, and we are excited to continue our expansion into the sector in partnership with the team at Collett Industrial,” said Robert McCall, Senior Managing Director at GTIS Partners. “With a focus on Opportunity Zone properties in particular, we are also excited to bring more jobs and economic opportunity to these communities, and look forward to encouraging development across the region. region.”

“We are excited to continue our investment in the GSP market alongside our partners at GTIS,” said plush shell, director at Collett Industrial. “The success we have had at Willimon Business Park to date is a testament to GSP’s many competitive advantages, including a strong workforce and the commitment of local municipalities and the Greenville Area Development Corporation to attracting and retaining quality companies.

The joint venture with Collett underscores GTIS’ continued expansion of its industrial acquisition and development platform. With these two new projects, GTIS’ global industrial portfolio comprises 13 million square feet with a total project cost of $1.25 billion on 14 projects.

About GTIS Partners

GTIS Partners is a leading real estate asset development and investment company headquartered in New York with offices at San Francisco, Los Angeles, Atlanta, Charlotte, Phoenix, Houston, dallasas well as Sao Paulo, Paris and Munich. The company was founded in 2005 by Tom Shapiro and is headed by the President Tom Shapiro and partners Rob Vahradian, Thomas Feldstein, and João Teixeira. The company manages $4.7 billion in gross assets and is active in a wide range of real estate sectors, including single and multi-family housing, offices, industrial/logistics and hospitality as well as opportunity area investments. The company invests at various points in the capital structure, including credit, common stock and structured stock. In the United States, GTIS has invested in more than 130 assets in 40 unique markets, including growth areas such as Phoenix, dallas, Houston, denver, Atlanta, Tampa and Charlotte. In Brazil, GTIS is one of the largest real-asset private equity firms with holdings including office, residential, logistics and hospitality investments. Marquee assets developed by GTIS Partners in São Paulo include the Infinity office building and the Palácio Tangará, a five-star resort-style hotel. For more information, please visit www.gtispartners.com.

About Collett Industrial

Based at Charlotte, North Carolina, Collett Industrial is a development and acquisition platform focused on industrial properties in the Southeastern United States Collett Industrial is a subsidiary of Collett, a full-service commercial real estate company with expertise in the development, management real estate, leasing, brokerage and representation of tenants. Collett Industrial’s portfolio includes nearly 3 million square feet of completed or planned industrial space focused on distribution, manufacturing and e-commerce related facilities. For more information, please visit https://www.colletindustrial.com.

Media Contacts

Mary Beth Grover / Keely Gispan
CSA Advisors
(203) 992-1230
[email protected] / [email protected]

SOURCE GTIS Partners