GTIS Partners has acquired 26 acres in Grand Prairie to develop a 442,000-square-foot industrial facility. The location, 2601 S. Belt Line Road, is in an Opportunity Zone. The Dallas Business Journal reports GTIS is paying for the project with the GTIS Opportunity Fund Zone I, a $630 million investment fund to build on sites in underinvested areas. The project, known as Remington 30, is expected to break ground later this year, with delivery expected at the end of next year.
Remington 30 will be located near the 220-acre Wildlife Commerce Park, a 4.8 million-square-foot development developed by Crow Holdings.
Founded in 2005, GTIS Partners manages $4.7 billion in assets and is active across several real estate sectors, including office, industrial and multifamily. The firm has several offices across the country, including in Dallas, Los Angeles and Houston and has invested in 235 assets across nearly 50 markets.
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