{"id":1004542855,"date":"2021-07-12T04:52:16","date_gmt":"2021-07-12T12:52:16","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004542855"},"modified":"2022-12-08T20:37:49","modified_gmt":"2022-12-09T04:37:49","slug":"velocis-enters-industrial-market","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/velocis-enters-industrial-market\/","title":{"rendered":"Velocis Enters Industrial Market"},"content":{"rendered":"
\"\"<\/a>

Velocis industrial rendering. Image courtesy of Velocis<\/p><\/div>\n

Velocis will introduce industrial properties to its portfolio following the acquisition of two development sites in the Dallas area.<\/p>\n

Since 2010, the company has purchased 35 properties in major U.S. markets, primarily focusing on multifamily, office, medical office and life science assets in high-growth Sun Belt markets. Velocis\u2019 portfolio has grown to include offices in the Washington, D.C., metro; retail in Austin, Texas; and multifamily in Charlotte, N.C.<\/p>\n

Last year, Velocis acquired a 10-story office building<\/a> in the Rosslyn, Va., submarket just outside of Washington, D.C., for $71.4 million.<\/p>\n

\n

READ ALSO:<\/strong> Industrial Rents, Investment Soar<\/a><\/p>\n

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Velocis decided to enter the U.S. industrial market due to the sector\u2019s ongoing high demand for space. Paul Smith, partner at Velocis, said in prepared remarks that the demand for industrial real estate, especially in Texas metro markets, is at an all-time high right now. Smith also noted that Velocis will look at opportunities both locally and nationally.<\/p>\n

Closing on first two projects<\/strong><\/h2>\n

To kick off its entry into the industrial sector, Velocis has partnered with Sumitomo Corp. of Americas to close on two development sites in the South Dallas and the Great Southwest submarkets in Texas. The two properties will be developed into 850,000 square feet of Class A industrial space.<\/p>\n

\u201cEach site is supported by excellent infrastructure, zoning that allows immediate construction for industrial use and local jurisdictions that favor this type of development,\u201d Smith told Commercial Property Executive<\/em>. \u201cAdditionally, both sites allow for immediate access to major population nodes (in Dallas-Fort Worth).\u201d<\/p>\n

\n

READ ALSO:<\/strong> Why Location Is More Important Than Ever<\/a><\/p>\n

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Smith told CPE<\/em> that the Great Southwest market has seen a robust uptick in leasing activity over the past years and has very little vacancy for industrial product. The two development sites will also be the first of several investments the company has planned with Sumitomo.<\/p>\n

Velocis is currently reviewing multiple opportunities in Dallas and Fort Worth, alongside an attractive opportunity in the north Austin market.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company will start its portfolio with two Dallas-area sites acquired in partnership with Sumitomo Corp. of Americas. <\/p>\n","protected":false},"author":883,"featured_media":1004542857,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586,21743,21748,21783,23891,21742],"tags":[51241,34374,33083],"class_list":["post-1004542855","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dallas","category-deals","category-industrial","category-investment","category-national","category-latest","tag-paul-smith","tag-sumitomo-corporation","tag-velocis"],"acf":[],"yoast_head":"\nVelocis Enters Industrial Market - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/velocis-enters-industrial-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Velocis Enters Industrial Market\" \/>\n<meta property=\"og:description\" content=\"The company will start its portfolio with two Dallas-area sites acquired in partnership with Sumitomo Corp. of Americas.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/velocis-enters-industrial-market\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-12T12:52:16+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T04:37:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/Velocis-industrial-rendering.-Image-courtesy-of-Velocis.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jackson Chen\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/velocis-enters-industrial-market\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/velocis-enters-industrial-market\/\",\"name\":\"Velocis Enters Industrial Market - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/velocis-enters-industrial-market\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/velocis-enters-industrial-market\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/Velocis-industrial-rendering.-Image-courtesy-of-Velocis.jpg\",\"datePublished\":\"2021-07-12T12:52:16+00:00\",\"dateModified\":\"2022-12-09T04:37:49+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/8d4607aca26f3427c49fe54ddc82ddf1\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/velocis-enters-industrial-market\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/velocis-enters-industrial-market\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/velocis-enters-industrial-market\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/Velocis-industrial-rendering.-Image-courtesy-of-Velocis.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/Velocis-industrial-rendering.-Image-courtesy-of-Velocis.jpg\",\"width\":800,\"height\":620,\"caption\":\"Velocis industrial rendering. 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