GID acquires Beltway Northwest industrial complex in Houston, Texas
GID, a prominent US-based alternative investment management firm, has expanded its portfolio by acquiring Beltway Northwest, a substantial industrial complex situated on Loop 8 in the Northwest submarket of Houston, Texas. The property encompasses a total of 299,000 square feet and features prime frontage along a key commercial route. This acquisition reflects GID’s continued investment in strategic locations and adds to its considerable assets under management, which total approximately $29 billion.
Constructed in 2007, Beltway Northwest consists of five buildings equipped with 62 dock high doors and 18 drive-in doors, offering clear heights ranging from 17 feet to 24 feet. The portfolio is currently fully leased to 17 diverse tenants, enhancing its stability and profitability. Notably, nine of these tenants boast an international footprint, while five have a national presence, underscoring the portfolio’s broad appeal and strategic significance.
GID Industrial will continue to collaborate with Stream Realty for property management services, ensuring the maintenance of institutional standards. Additionally, Transwestern has been selected as the broker to keep the project fully leased, further solidifying the operational framework. GID’s industrial vertical currently includes 24.7 million square feet across 232 properties in 22 markets. As of the latest update on December 31, 2023, GID’s regulated fund operates over 1.4 million industrial square feet across seven markets.
Headquartered in Dallas, Texas, GID Industrial operates a diverse portfolio that includes multifamily, industrial, and mixed-use developments across the United States. With a strategic presence in several key markets, GID boasts a skilled team of investment and asset management professionals who bring a wealth of experience to the industrial real estate sector. The company manages a core+ portfolio worth $2.4 billion, which comprises 15 million square feet out of a total 24 million square feet under management.
The acquisition of Beltway Northwest by GID marks a significant enhancement of its industrial holdings and demonstrates its strategic acumen in identifying and capitalizing on valuable real estate opportunities. This addition is likely to bolster GID’s standing in the competitive industrial market, particularly within the Houston area, a key logistics and distribution hub.