GLP Capital Partners Inc. Acquires 367,744 Square Foot Cross-Dock Warehouse in Lewisville, TX

LOS ANGELES, September 11, 2024 – GLP Capital Partners Inc. (“GCP US”) today announced that it has acquired Waters Ridge Distribution Center (“Waters Ridge”) in Lewisville, TX, part of the Northwest Dallas submarket. The investment aligns with GCP US’ strategy of acquiring assets in supply-constrained markets with durable demand drivers.

Waters Ridge is an infill, 367,744 square foot cross-dock warehouse that is fully occupied. The property is part of the Dallas Fort-Worth (DFW) market, a 1 billion square foot industrial market that serves as one of the country’s primary logistics hubs.

The region continues to experience robust fundamentals as a result of tenant demand driven by local population growth and proximity to critical distribution infrastructure, with new supply constrained by limited land availability. As of Q2 2024, Lewisville has no industrial projects actively under construction and a 3.9% vacancy rate, one of the lowest in the DFW metroplex¹.

“Our most recent investment in Dallas continues our strategy of acquiring assets in supply-constrained, infill markets,” said Adam Berns, Chief Investment Officer at GCP US. “We are focused on investing in submarkets in prime logistics hubs that are supported by durable demand drivers.”

¹ CBRE Research, Q2 2024

About GLP Capital Partners Inc. (“GCP US”)

GLP Capital Partners Inc (“GCP US”) is a registered investment adviser that primarily focuses on uncovering advantaged opportunities in logistics, digital infrastructure, energy transition, self-storage and related technologies. GCP US is part of GLP Capital Partners Limited (“GCP”), a leading global alternative asset manager with approximately $122 billion in total assets under management, but it is operated independently. To learn more about GCP, visit www.gcp.com.

Media Contact

Kathleen Allen
VP, Marketing and Communications
kallen@gcp.com