{"id":1004783616,"date":"2026-01-13T04:44:53","date_gmt":"2026-01-13T12:44:53","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004783616"},"modified":"2026-01-14T02:54:27","modified_gmt":"2026-01-14T10:54:27","slug":"realty-income-gic-form-1-5b-jv","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/realty-income-gic-form-1-5b-jv\/","title":{"rendered":"Realty Income, GIC Form $1.5B JV"},"content":{"rendered":"\n<p>Realty Income Corp. has entered a strategic partnership with GIC focusing on logistics real estate development across the U.S. The programmatic joint venture will target build-to-suit properties that are fully leased on a long-term basis to tenants with investment-grade or equivalent credit. Combined capital commitments exceed $1.5 billion.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/homedepot-Trammell-Crow.jpg\" target=\"_blank\" rel=\" noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"900\" data-attachment-id=\"1004741161\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/trammell-crow-jv-kicks-off-home-depot-industrial-project\/homedepot-trammell-crow\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/homedepot-Trammell-Crow.jpg\" data-orig-size=\"1200,900\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"homedepot-Trammell-Crow\" data-image-description=\"&lt;p&gt;Property at 320 McCloy Ave., Stockton, Calif.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Once complete, the facility will operate Home Depot\u2019s bulk and oversized deliveries. Image courtesy of Trammell Crow Co. &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/homedepot-Trammell-Crow.jpg?w=1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/homedepot-Trammell-Crow.jpg\" alt=\"Rendering of Trammell and Realty Income's build-to-suit facility for Home Depot in Stockton, Calif.\" class=\"wp-image-1004741161\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/homedepot-Trammell-Crow.jpg 1200w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/homedepot-Trammell-Crow.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/homedepot-Trammell-Crow.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/homedepot-Trammell-Crow.jpg?resize=1024,768 1024w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/a><figcaption class=\"wp-element-caption\">Realty Income and Trammell Crow are developing the 655,200-square-foot Home Depot Logistics Center in Stockton, Calif., a build-to-suit industrial facility expected to come online this year. <em>Image courtesy of Trammell Crow Co. <\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Properties acquired through the joint venture will be majority-owned by Realty Income. Greenhill\u2014a Mizuho affiliate\u2014advised Realty Income on the transaction, while CBRE Investment Banking served as exclusive financial adviser.<\/p>\n\n\n\n<p>The partnership also extends to a build-to-suit industrial portfolio in Mexico valued at about $200 million, representing Realty Income\u2019s first investment in the country. Realty Income and GIC\u2014along with with development partner Hines\u2014will jointly fund the collection&#8217;s construction, while Realty Income is set to acquire the properties at completion. The facilities, located in Mexico City and Guadalajara, are leased on a long-term net basis to Global Fortune 100 tenants.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>LISTEN TO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/inside-industrial-scale-data-decision-advantage\/\">Inside Industrial: Scale, Data &amp; Decision Advantage<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Founded in 1969, Realty Income owns more than 15,500 properties across the U.S., the U.K. and seven other European countries as of September 2025. The company has traditionally concentrated on retail real estate; now, the partnership with GIC expands its operations into the industrial sector, supporting its broader strategy to diversify capital sources and investment opportunities.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-industrial-fundamentals-favor-build-to-suits\">Industrial fundamentals favor build-to-suits<\/h2>\n\n\n\n<p>Industrial fundamentals moderated in 2025 as the sector continued to absorb a historic wave of new supply. More than 2.5 billion square feet of <a href=\"https:\/\/www.commercialsearch.com\/news\/top-markets-for-industrial-deliveries\/\">industrial deliveries<\/a> were recorded between 2020 and 2024, pushing the national vacancy rate to 9.7 percent in November\u2014up 220 basis points year-over-year, according to Yardi Matrix data.<\/p>\n\n\n\n<p>Against this backdrop, the <a href=\"https:\/\/www.commercialsearch.com\/news\/whats-next-for-industrial-real-estate\/\">industrial outlook<\/a> points to growing preference for build-to-suit and long-term leased facilities as occupiers prioritize certainty and supply-chain resiliency over speculative expansion, a shift that aligns with strategies centered on credit-backed logistics assets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The partnership will focus on build-to-suit industrial.<\/p>\n","protected":false},"author":3014,"featured_media":1004741161,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,21825,21748,23891,21742],"tags":[32789,33650,32797,36179,46856],"class_list":["post-1004783616","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-finance","category-industrial","category-national","category-latest","tag-cbre","tag-gic","tag-hines","tag-mizuho-bank-ltd","tag-realty-income-corporation"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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