Dallas (June 24, 2024) — GID, the US-based real estate investment and management firm with over $29 billion in assets under management1, has announced the acquisition of two separate properties: Seattle Distribution Center in Seattle and Shiloh Road East & Royal Atlanta Drive in Atlanta.
Seattle Distribution Center consists of two, multi-tenant buildings totaling 174,341 sq ft that are currently 69% leased to seven tenants and one rail user. Located in South Seattle, the property provides direct access to I-5, SR-509, and SR-99, facilitating seamless connectivity to Downtown Seattle, Port of Seattle, and Seattle-Tacoma International Airport (“SeaTac”). The buildings also feature concrete tilt-wall construction, 49 dock-high and 4 drive-in doors with clear heights over 24’, and diverse suite configurations, spanning from 5,000 to 38,000 sq ft.
The Atlanta portfolio consists of three, multi-tenant buildings totaling 169,215 sq ft, with Shiloh Road East located in the Meadows Industrial Park of the North Central/GA 400 Corridor submarket and South Royal Atlanta Drive located in the Royal Atlanta Business Park of the Tucker/Stone Mountain submarket. There are 17 suites, 97% of which are currently leased to 15 tenants with a WALT of 2.8 years. Also included are 40 dock-high and 13 drive-in doors with an average clear height of 16’-23’. This portfolio brings GID Industrial’s total square footage in the Royal Atlanta Business Park to 350,510 sq ft.
To learn more about GID Industrial, visit gid.com/industrial.
1. AUM is as of 3/31/2024 and is calculated in compliance with the definition for Assets Under Management (“AUM”) prescribed in INREV’s Global Definitions Database and includes the market value of real estate as well as non-real estate assets (including any cash in the vehicle or mandate) and committed but uncalled capital for which GID provides oversight and investment management services (for internal client capital and third-party capital) in the funds as well as “Other GID Accounts,” (as defined below) and accounts for which GID provides asset management services without an equity investment. Other GID Accounts include proprietary accounts and co-investment joint ventures with unaffiliated investors where the latter maintain significant approval rights over the management of these investments. Such investment vehicles 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” in the ADV Part 1. As of March 31, 2024, the firm’s regulatory assets under management totaled $3.8B.