Speculative development in Laredo now fully leased

Freight Dispatch Service Agency has signed a full-building lease at the I-35 Logistics Center, a 131,718-square-foot, speculative industrial development in Laredo, Texas. Joshua Aguilar with CBRE in San Antonio represented the landlord/owner, Tailwind Real Estate Equities and the developer, Gulf Corporation. Joey Ferguson with NAI Swisher & Martin Realty represented the tenant. The development broke ground in August of 2019 and was completed in April of this year. Freight Service Agency—a local customs broker servicing multiple accounts handling warehousing and distribution services on behalf of its clients—took occupancy on June 1. This property was selected due to the size, building efficiencies, such as clear height, heavy trailer parking, heavy dock door count and minimal in-place office. In addition, the owner was able to provide a speed to market and a fast finish out. “What this speedy fulfillment of this property showcases is that the Laredo industrial market continues to have strong demand, with much of the new speculative construction already spoken for,” said Aguilar, first vice president at CBRE. “Despite the challenges of the current environment, Laredo has shown signs that trade is going to continue with no signs of slowing down. New development will be key in meeting the demand in the marketplace.” To continue to meet the growing demands of the Laredo industrial market, Gulf Corporation will soon break ground on another 300,000 square foot speculative development at Pinnacle Industrial Park.