Provident Industrial Sells 576,365 SQFT of Gateway Logistics Park in El Paso

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Aug 06, 2024, 11:00 ET

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 of Gateway Logistics Park, El Paso, TX

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, [email protected]

SOURCE Provident Realty Advisors, Inc.