Provident Industrial Sells Building 3 of Gateway Logistics Park in El Paso

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Sep 10, 2024, 14:30 ET

EL PASO, Texas, Sept. 10, 2024 /PRNewswire/ -- Provident Industrial, a division of Dallas-based Provident, is proud to announce the successful sale of Building III at Gateway Logistics Park to EQT Exeter, a prominent global real estate owner and operator. EQT Exeter, the real estate division of EQT, is recognized for its extensive portfolio, which includes logistics and industrial properties, along with residential and office/life sciences properties spanning North and South America, Europe, and Asia.

Gateway Logistics Park - Building 3, El Paso, TX

Building III marks the third phase of Gateway Logistics Park's development, following the sale of Buildings I & II in late July. Located at 1800 Vindale Road, Building III includes 345,394 square feet of industrial space with 36-foot clear heights, 59 dock doors, and 2 ramp doors. Phase III also includes a separately gated trailer staging area with 98 trailer spaces, bringing the total trailer parking capacity to 173.

Positioned just east of Buildings I & II, Building III has excellent connectivity with access to Loop 375 and is conveniently located 7.5 miles north of the Ysleta-Zaragoza Port of Entry in Juarez, Mexico. This location enhances the site's appeal to tenants engaged in cross-border logistics and distribution operations.

Construction was completed in August, led by general contractor Harvey-Cleary and construction manager Pritchard Associates. As the third phase of Gateway Logistics Park, Building III was developed through a partnership between Provident, WestStar Bank, and Singerman Real Estate. Provident's Managing Director Case Van Lare and Chris Martin, Director of Southwest Industrial Development & Acquisitions, spearheaded the project. Reflecting on the El Paso industrial market, Chris Martin stated, "Our investment in El Paso was driven by our recognition of the secular trends of nearshoring and reshoring. We've witnessed significant growth in the region as companies relocate to this market. We're excited to see Exeter continue their success and further expand their presence at Gateway Logistics Park."

Provident has significantly expanded its industrial portfolio, with 7.9 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 with over three decades of experience and multiple market cycles. Since 1991, Provident has developed or invested in more than $5.9 billion worth of real estate nationwide. For more information, please visit www.providentrealty.net.

Media Contact: Chris Martin, [email protected]

SOURCE Provident Realty Advisors, Inc.