GID Industrial Announces Acquisition of 131,800+ sq ft Portfolio in Phoenix

PHOENIX, May 13, 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 Tempe Infill, a 131,800+ sq ft portfolio located in the Airport submarket of Phoenix.

The portfolio is currently 100% leased to seven tenants and comprises five buildings, each averaging ~26,000 sq ft. The portfolio is also equipped with 13 dock-high doors and 9 grade-level doors, with average clear heights of 13'-20'. Its prime location places it within a 20-minute drive of Interstate-10, Sky Harbor International Airport, Downtown Tempe, and Downtown Phoenix.

The Tempe Infill Portfolio has a strong history of institutional ownership and tenant demand, as evidenced by the current building conditions with little deferred maintenance required and an average in-place tenant tenure of eight years. GID plans to maintain institutional standards and keep the project fully leased.

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, 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 24.7 million square feet across 232 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