Velocis closes on its first two industrial development sites in DFW
DALLAS, Texas – (July 8, 2021) – Velocis, a private equity real estate manager, has entered the industrial real estate market, recently closing on two development sites which will be developed into 850,000 SF of Class A industrial space in the South Dallas and GSW submarkets. Velocis partnered with Sumitomo Corporation of Americas on these investments. These are the first of several industrial investments Velocis plans to pursue with the wholly owned subsidiary of Tokyo-based Sumitomo Corporation.
“The demand for industrial real estate, especially in Texas metro areas like Dallas-Ft Worth, is at an all-time high right now,” said Paul Smith, Velocis Partner. “We consider these first two transactions to be the first of many industrial investments with our client as we continue to evaluate opportunities locally and on a national level.”
Dallas-based Velocis has been active in real estate since 2010, purchasing 35 assets located in major markets within Arizona, Colorado, Texas, Georgia, Florida, North Carolina, Virginia, Tennessee and the Washington D.C. Metro Area. Velocis is led by a team of five seasoned partners who are directly responsible for the acquisition, asset management and disposition of assets. Velocis partners include Fred Hamm, Mike Lewis, Jim Yoder, Paul Smith and David Seifert.
Velocis is a private equity real estate investment firm, active in the acquisition, operation/management and disposition of commercial real estate in the United States. Additional information about Velocis can be found at velocis.com.
About Sumitomo Corporation of Americas
Established in 1952 and headquartered in New York City, Sumitomo Corporation of Americas (SCOA) is the largest subsidiary of Sumitomo Corporation, one of the world’s leading traders of goods and services. With nearly 40 years of real estate investment and development experience in the U.S., SCOA maintains a diverse and balanced real estate portfolio with investments in commercial office buildings, multi-family communities, and master-planned developments.
This does not constitute an offer to sell, or a solicitation of any offer to buy any securities or investment advice, nor is it intended to be a description of all material factors an investor should consider before making any investment.