New York City-based commercial real estate company GTIS Partners has acquired a tract in Pasadena to develop a 484,000- square-foot industrial project. GTIS closed on about 26 acres in the Park 225 commercial business park at Beltway 8 and State Highway 225 on May 8 and plans to break ground on the two-building development in October.
The 355,000-square-foot cross-dock building will be 510 feet deep and have 36-foot clear height. It will include parking spots for 280 cars and 67 trailers. The other building will be a 129,000-square-foot rear-load warehouse with 32-foot clear height, 180-foot depth, and 102 car and 26 trailer parking spots.
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