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Watco acquires Gulf Coast industrial park

Watco Cos. L.L.C. has acquired the remaining interest in Greens Port Industrial Park (GPIP) in Houston from a real estate developer and other limited partners.

Watco has owned a minority stake in GPIP since 2004, when the park was acquired from AK Steel. Watco — which provides rail, transload, switching and mechanical services at GPIP — bought the remaining interest from Houston developer Charles Iupe and other partners.

"Watco views Greens Port as a strategic transportation location and this acquisition will further solidify our presence in the Gulf Coast’s busiest corridor," said Dan Smith, Watco vice president, in a prepared statement.

GPIP is the largest private, multi-tenant intermodal industrial park in the Gulf Coast, according to Watco. The 640-acre park is near the Houston ship channel and offers warehousing, lay-down storage, industrial property leasing, contract stevedoring, rail and truck services. The park features four rail yards that can store up to 1,200 rail cars.

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