DALLAS, June 24, 2024 /PRNewswire/ — GID, the US-based real estate investment and management firm with over $29 billion in assets under management1, has announced the acquisition of two separate properties: Seattle Distribution Center in Seattle and Shiloh Road East & Royal Atlanta Drive in Atlanta.
Seattle Distribution Center consists of two, multi-tenant buildings totaling 174,341 sq ft that are currently 69% leased to seven tenants and one rail user. Located in South Seattle, the property provides direct access to I-5, SR-509, and SR-99, facilitating seamless connectivity to Downtown Seattle, Port of Seattle, and Seattle-Tacoma International Airport (“SeaTac”). The buildings also feature concrete tilt-wall construction, 49 dock-high and 4 drive-in doors with clear heights over 24′, and diverse suite configurations, spanning from 5,000 to 38,000 sq ft.
The Atlanta portfolio consists of three, multi-tenant buildings totaling 169,215 sq ft, with Shiloh Road East located in the Meadows Industrial Park of the North Central/GA 400 Corridor submarket and South Royal Atlanta Drive located in the Royal Atlanta Business Park of the Tucker/Stone Mountain submarket. There are 17 suites, 97% of which are currently leased to 15 tenants with a WALT of 2.8 years. Also included are 40 dock-high and 13 drive-in doors with an average clear height of 16′-23′. This portfolio brings GID Industrial’s total square footage in the Royal Atlanta Business Park to 350,510 sq ft.
To learn more about GID Industrial, visit gid.com/industrial.
About GID
GID is a privately-held, vertically-integrated real estate company that owns, operates, and/or manages a portfolio of multifamily and industrial assets, and develops mixed-use projects across the United States. The company also operates a credit platform that aims to provide commercial real estate debt solutions for institutional borrowers. With corporate offices in Atlanta, Boston, Dallas, Dubai, 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 Industrial comprises a team of experienced investment professionals operating, managing, and/or developing approximately 25.0 million square feet across 231 properties and 22 markets as of March 31, 2024.
1Assets Under Management is calculated in compliance with the definition for Assets Under Management (“AUM”) prescribed in INREV’s Global Definitions Database. GID’s AUM includes capital for which GID provides oversight and investment management services in the funds as well as proprietary accounts, joint ventures, and accounts for which GID provides asset management services without an equity investment (“Other GID Accounts”). Other GID Accounts are not categorized as funds and are not included in regulatory assets under management or reported in dollars in custody and are not considered “clients” on GID’s ADV Part 1. As of December 31, 2023, the firm’s regulatory assets under management totaled $3.8b and include 10,312 multifamily units, 1.4M industrial square feet, and 106 supervised employees.
SOURCE GID Real Estate
