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, 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, cmartin@providentrealty.net
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SOURCE Provident Realty Advisors, Inc.
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