Watco Companies has successfully acquired the remaining interest in Greens Port Industrial Park (GPIP) located on the Houston ship channel in Houston, Texas. Watco has owned a minority interest in the property since 2004, when GPIP was originally acquired from AK Steel. Watco acquired the General Partnership interest of GPIP from Charles Iupe, a Houston based real estate developer who has been involved since 2004, along with all other limited partnership interests.

Greens Port Industrial Park is the largest private multi-tenant intermodal industrial park in the Gulf Coast market. It consists of 640 acres located in the heart of the Houston ship channel and offers a multitude of services including warehousing, lay down storage, leasing of industrial property, access to deep water dock and barge, contract stevedoring, rail and truck transportation. There is currently more than 4,000 linear feet of ship channel frontage, including a 1,080 linear foot deep-water dock capable of serving some of the world's largest ocean going vessels, as well as a separate barge terminal.

Greens Port currently contains over 3,000,000 square feet of industrial buildings with direct access to rail, dock and barge transportation. Additionally, the park includes four rail yards capable of storing up to 1,200 railcars. Greens Port is served by the Union Pacific, as well as the Kansas City Southern and BNSF railroads via the service of the Port Terminal Railroad Association, and offers easy access to major thoroughfares serving the Houston area via its proximity to Interstate 10 and Highway 225.