October 23, 2019
Granite Real Estate Investment Trust is now the owner of a West Dallas Amazon fulfillment center at 1301 Chalk Hill Rd. The Toronto buyer snapped up the 2.3-million-square-foot center as part of a $295 million acquisition spree, which also included properties in the Southeast and Midwest.
The new facility was developed by Hillwood, and according to media reports, Amazon will begin its lease by Dec. 31, 2019, with a minimum 10-year term. The e-commerce giant is expected to move into the facility at the time, as well. Amazon waived its purchase rights to acquisition.
Granite Real Estate also bought the 496,416-square-foot Greenpointe Logistics Center in Greenwood, IN, and the 689,400-square-foot 100 Clyde Alexander Lane in Savannah, GA.
“These acquisitions further advance our strategy of acquiring and developing modern e-commerce fulfillment and distribution facilities in Granite’s target markets in the U.S.,” said Kevan Gorrie of Granite.
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