GTIS Partners Announces $140 Million Industrial Property Joint Venture in South Carolina with Collett Industrial

NEW YORK, Aug. 3, 2022 /PRNewswire/ -- GTIS Partners ("GTIS"), a global real estate investment firm that manages $4.7 billion in gross assets with a focus on residential and industrial investments, announced today a joint venture with Collett Industrial ("Collett"), an industrial developer headquartered in Charlotte, NC, to acquire and develop two projects in the Greenville-Spartanburg ("GSP") MSA which have a total capitalization of $140 million. One of the projects, Willimon Business Park, has executed leases or letters of intents with tenants totaling approximately 520,000 square feet for long term occupancy at the project.

The GSP development projects, which will total nearly 1.2 million square feet of industrial space upon completion, are located directly adjacent to one another within the same Opportunity Zone on the eastern edge of the South Carolina Technology & Aviation Center ("SCTAC"). SCTAC is one of the largest business parks in South Carolina and houses the operations of over 110 companies.

The new projects are centrally located on the East Coast, offering greater access around Greenville, south to Charleston and Atlanta, and north to Charlotte, Raleigh and Durham. Demand in the GSP industrial market is supported by a diverse set of factors including the strong availability of labor, proximity and connectivity to the Port of Charleston and Inland Port Greer, and the long history of manufacturing in the region.

"Fueled by the ongoing growth of ecommerce and onshoring, the demand for industrial warehouses remains strong, and we are excited to continue our expansion in the sector in partnership with the team at Collett Industrial," said Robert McCall, a Senior Managing Director at GTIS Partners. "With a focus on Opportunity Zone properties specifically, we are also pleased to bring more jobs and economic opportunities to these communities, and look forward to encouraging development across the region."

"We're excited to continue our investment in the GSP market alongside our partners at GTIS," said Teddy Hull, a principal at Collett Industrial. "The success we've seen at Willimon Business Park to date is testament to the numerous competitive advantages across GSP, including a strong labor force and commitment by local municipalities and the Greenville Area Development Corporation to attract and retain quality businesses."

The joint venture with Collett underscores GTIS' continued expansion of its industrial acquisition and development platform. With these two new projects, GTIS' global industrial portfolio encompasses 13 million in square feet with a total project cost of $1.25 billion across 14 projects.

About GTIS Partners

GTIS Partners is a leading real asset investment and development firm headquartered in New York with offices in San Francisco, Los Angeles, Atlanta, Charlotte, Phoenix, Houston, Dallas, as well as São Paulo, Paris and Munich. The firm was founded in 2005 by Tom Shapiro and is managed by President Tom Shapiro and Partners Rob Vahradian, Thomas Feldstein, and João Teixeira. The firm manages $4.7 billion in gross assets and is active across a wide range of real estate sectors including single family and multifamily housing, office, industrial/logistics and hospitality as well as opportunity zone investments. The firm invests at various points in the capital structure including credit, common equity and structured equity. In the US, GTIS has invested in over 130 assets across 40 unique markets including growth areas such as Phoenix, Dallas, Houston, Denver, Atlanta, Tampa and Charlotte. In Brazil, GTIS is among the largest real assets private equity firms with holdings including office, residential, logistics, and hospitality investments. Marquee assets developed by GTIS Partners in São Paulo include the Infinity office building and Palácio Tangará, a five-star resort style hotel. For more information, please visit www.gtispartners.com.

About Collett Industrial

Headquartered in Charlotte, NC, Collett Industrial is a development and acquisition platform focused on industrial properties in the southeastern U.S. Collett Industrial is a subsidiary of Collett, a full-service commercial real estate firm with expertise in development, property management, leasing, brokerage and tenant representation. Collett Industrial's portfolio consists of nearly 3 million square feet of completed or planned industrial space, focused on distribution, manufacturing, and e-commerce-related facilities. For more information, please visit https://www.collettindustrial.com.

Media Contacts

Mary Beth Grover / Keely Gispan
ASC Advisors
(203) 992-1230
[email protected] / [email protected]

SOURCE GTIS Partners