PHOENIX (May 2, 2024) — 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.
[1]Assets 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.