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EQT Exeter has acquired Buildings I & II of Gateway Logistics Park in El Paso, Texas. The seller was Provident Industrial, a division of real estate and investment firm Provident.

Reflecting market conditions along the U.S.-Mexico border, the sale was driven by the current institutional interest in the El Paso market, Provident Director Chris Martin told Commercial Property Executive.

“Texas, especially the border markets of El Paso and Laredo, has weathered the economic challenges of the past two-and-a-half years better than most areas in the U.S., leading to (the) strongest rent growth in the nation and the corresponding increased valuations,” Martin said.