The Teacher Retirement System of Texas has already pledged $225 million toward the fund. The strategy will focus on acquiring logistics assets in primary, gateway, and select secondary markets where supply is limited and current in-place rents are below market rates.
The site is approved for development of a 741,837-square-foot industrial park consisting of six buildings, with individual structures ranging in size from 62,924 to 150,549 square feet.
The site was previously acquired for $13.7 million in 2023. Despite no construction activity, the property appreciated in value.
From pulling inventory forward to automation, tariff-busting tactics companies are using have benefits but risks as well.
A recent report by CBRE suggests these legacy warehouses could find new life with the right investments in retrofits and upgrades.