EL PASO,
Texas, Aug. 6, 2024 /PRNewswire/ -- Dallas-based Provident Industrial, a division
of Provident, is pleased to announce the disposition of Buildings I
& II of Gateway Logistics Park, to public global real estate
owner/operator, EQT Exeter, a real estate division of EQT.
Exeter acquires, develops, leases, and manages
logistics/industrial, residential and office/life sciences
properties in North and South
America, Europe, and
Asia. The sale includes Building I
and Building II totaling 576,365 square feet of the 3-building
industrial park located on Ashtabula Avenue in El Paso, TX. Construction on buildings I and
II were completed in November 2023
and April 2024, respectively, and
construction for building III will be completed in August 2024.
Building I, located at 12221 Ashtabula Ave is 308,270 square
feet with 32' clear heights. It houses 93 trailer spaces, 69 dock
doors, 2 ramp doors, and 54' x 50' column spacing. Building II,
located at 12228 Ashtabula Ave is 268,095 square feet with 32'
clear heights. This building has 69 trailer space, 56 dock doors, 2
ramp doors, and 54' x 50' column spacing. Both buildings feature
Loop 375 frontage and are 7.5 miles north of the Ysleta-Zaragoza
Port of Entry in Juarez, Mexico.
Construction of both phases was completed by the general
contractor, Harvey-Cleary. Case Van
Lare and Chris Martin from
Provident led the development.
Provident has significantly expanded its industrial portfolio,
with 8.4 million square feet currently under construction or in
pre-development across Texas,
Arizona, and the Carolinas, over
the past three years.
About Provident
Provident is a privately held real estate and investment firm
that has thrived through three decades and multiple market cycles
with foresight, depth of experience, and a unique ability to adapt
to shifting demands, market trends and challenging economic cycles.
Provident seeks to provide exceptional risk-adjusted returns to its
investor partners through superior development of opportunistic and
value-added strategies. Since its formation in 1991, Provident has
developed or invested in more than $5.9
billion worth of real estate projects across the country.
For more information, please visit www.providentrealty.net.
Media Contact: Chris
Martin, cmartin@providentrealty.net
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SOURCE Provident Realty Advisors, Inc.