JLL Capital Markets has closed the sale of a four-building industrial portfolio totaling 326,166 square feet in El Paso, Texas and Santa Teresa, New Mexico.
JLL marketed the portfolio on behalf of Blue Road Investments. STAG Industrial acquired the portfolio.
The portfolio comprises four-buildings of infill distribution space that is 100% leased to a dynamic tenant roster of diverse industries.
The buildings are located at 150 Earhardt Way, 9494 Escobar Drive, 9555 Plaza Circle and 9571 Pan American Drive within the North American borderplex, a combination of the Las Cruces and El Paso MSA’s in addition to Cuidad Juarez, Mexico. The borderplex is home to more than 2.7 million residents with one of the largest bilingual workforces in the world and the seventh largest manufacturing hub in North America, employing more than 275,000 individuals in the region. The portfolio features premier, infill logistics locations with immediate access to vital local and regional highways infrastructure including Interstates 10 and 25, Loop 375, UP Intermodal, Ysleta-Zaragoza International Bridge and the Santa Teresa Port of Entry. As a result, the properties are well positioned to ship across the U.S. within two to three business days.
The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Senior Managing Directors Dustin Volz and Trent Agnew, Directors Dom Espinosa and Zach Riebe, Associate Josh Villarreal and Analyst Jack Copher.
(Pecos, Texas) – On May 18, 2022, VLK Architects joined Pecos-Barstow-Toyah ISD to break ground on the construction of a new elementary campus. This is the second elementary school VLK designed for the district as a part of the May 2021 bond.
“VLK feels very fortunate for the partnership that we have established with Pecos-Barstow-Toyah ISD and their community as they break ground on their second elementary school,” said Monika Castillo, Principal of VLK Architects. “We understand the legacy these projects will bring to the students and staff and are excited to be a part of it.”
During the ceremony, PBTISD Superintendent Brent Jaco spoke about the collaborative process behind the design of this new facility that started last June.
“We have worked to ensure district stakeholders had a voice in the design of the new schools and facilities. Community members, parents, teachers, campus administrators, and even students have been involved beginning almost a year ago.”
The unique design process, called VLK | LAUNCH®, resulted in a 133,038sf facility with a two-story library at the heart of the campus featuring teaching spaces and reading nooks on each level. The school will also include a music room with direct access to a performance stage, STREAM (Science, Technology, Reading, English, Arts, Math) and science labs with access to an outdoor patio and science balcony, and an art room with a kiln.
The campus is scheduled to open its doors to students in fall 2023.
CBRE has arranged the lease of a 169,011-square-foot speculative industrial building in far East El Paso to an undisclosed logistics company.
CBRE’s William Caparis and André Rocha represented the developer, Mississippi-based EastGroup Properties, in lease negotiations.
EastGroup Properties began construction on the speculative warehouse/distribution building—located at 12291 Gateway Boulevard West—in September 2021 with an estimated completion date of July 2022. The real estate investment trust currently owns a little over 1.2 million square feet of industrial space in El Paso.
Once complete, the building will be 255 feet deep with modern specifications including a clear height of 32 feet, 52- by 50-foot column spacing, and 42 dock-high doors. Additional specifications include skylights, three-phase power and an ESFR sprinkler system. The building will sit on 12.61 acres and include a 135-foot deep truck court with staging for 50 trailers, as well as parking for 163 cars.
The new warehouse is situated in El Paso’s East submarket, a premier industrial corridor with quick access to Interstate 10 and Texas State Highway Loop 375. At the end of the first quarter of 2022, the submarket accounted for nearly half of all industrial construction with approximately 2.1 million square feet in progress according to CBRE research. Of the 4.2 million square feet of industrial space under construction throughout the metro, 2.0 million square feet were speculative developments.
Constellation Real Estate Partners, an investor and developer of logistics properties, in partnership with a real estate fund advised by Crow Holdings Capital, has acquired 52.29 acres of land on Bill Burnett Drive in El Paso, Texas for the development of a three-building, 798,470-square-foot industrial project known as Constellation Trade Center. Construction will begin this summer with completion scheduled for Q2 of 2023.
This marks the second land acquisition/development project for Constellation in the past two months. In March, the company, in partnership with a real estate fund advised by Crow Holdings Capital, acquired 33 acres in Houston for Constellation Post Oak, a two-building, 426,200-square-foot industrial development. Construction on Constellation Post Oak is scheduled to start in June.
Designed by PSRBB Industrial Group, Inc. and Langan Engineering, the project will feature multiple points of ingress/egress with full circulation, significant auto/trailer parking, ESFR sprinkler systems, and LED lighting. Building 1 is 362,914 square feet and offers a cross-dock configuration with 36-foot clear height. Buildings 2 and 3 are each 217,778 square feet with both featuring a rear-load configuration and 32-foot clear height. The speculative project is designed to target distribution, fulfillment, e-commerce, and light industrial users from 40,833 square feet to 362,914 square feet.
Constellation Trade Center is located less than one mile from Interstate 10, the preferred east/west corridor connecting California to Florida. It is also located only five miles from the Zaragoza Bridge Port of Entry to Mexico, which is ranked No. 2 in the Top 10 U.S. Ports in the U.S. for total trade value between the US and Mexico.
Bill Caparis and Christian Perez Giese with CBRE’s El Paso office assisted Constellation Real Estate Partners in the acquisition and will oversee leasing of the new development.
Since 1988, The McAllen Economic Development Corporation has attracted manufacturing companies from across the globe. The organization’s recruitment efforts focus primarily on using their strategic border location to give companies a cost-effective, globally competitive manufacturing solution, delivering quality products, that in some cases, are made to order and require a much more robust lead time.
Located along the United States – Mexico Border, the city of McAllen is home to several well-known manufacturing companies. Target industries include: Automotive, Electronics, Aerospace, Medical Equipment, Customer Care Centers, Data Centers, Hi-Tech companies that focus on Software
Development, Robotics and the Semiconductor business in the near future.
With an emerging binational population of 2.5 million and a manufacturing workforce of over 150,000, this international metro offers highly skilled talent with over 30 years of industrial experience. Local educational partners are focused on extensive training, skills development apprenticeship programs with a focus on Industry 4.0, artificial intelligence, and automation. Click to read more at www.rednews.com.
Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale leaseback of a two-location portfolio occupied by Oryx Oilfield Services. The facilities are located at 900 East Highway 11 in Kermit, Texas and 922 Farm to Market 81 in Goliad, Texas. Together, the transaction included 13 buildings totaling more than 118,000 square feet. Stan Johnson Company’s John Rotunno represented the tenant, who executed a long-term lease at the time of sale. The portfolio was acquired for an undisclosed price by Real Capital Solutions, a private equity group based in Colorado.
With roots in the oil and gas industry, Oryx has a solid history of service to key customers, providing facility maintenance and construction, pipeline construction and fabrication facilities for facility components. The portfolio properties serve as mission critical locations for Oryx’s service operations, and the properties feature office and warehouse space, manufacturing and fabrication facilities, as well as an abundance of fenced acreage totaling approximately 95 acres.