GID Industrial Enters Baltimore-Washington Market
Nine-building acquisition from Link Logistics brings total portfolio to more than 20 million square feet.
GID Industrial announced a significant initial plunge into the Washington, D.C.-Baltimore corridor last week by acquiring a nine-building portfolio along Interstate-95.
It was one of two acquisitions, with the other centered in Las Vegas. Together, they add 1.39 million square feet to the firm’s portfolio that totals more than 20 million square feet.
The 959,570 square foot portfolio that includes locations in Baltimore and Howard County comprises nine buildings. It is currently occupied by 33 diverse tenants and offers 180 dock doors with 18′-24′ clear heights, as well as a wide range of suite sizes.
This represents “significant capital deployment and immediate scale in a highly desirable market,” the company said in a release. “[They] are well-aligned with the firm’s strategy to acquire, develop, and manage light industrial assets in high barriers to entry locations with density and high incomes.”
Expanding Its Presence in Las Vegas
The North Las Vegas Portfolio, known as Nellis Industrial Park, comprises five buildings totaling 433,270 square feet. The portfolio is 100 percent leased with 21 tenants occupying 22 suites.
It “expands GID Industrial’s presence in the market, complementing the recent acquisition of SunPoint Commerce Center, an active JV development located just four miles away,” GID said in a release.
Fifteen months ago, GID launched an investment platform with global real estate investor Ivanhoé Cambridge, with an eye toward acquiring industrial assets across growth markets in the US.