Rendering of Westpark Logistics Heart’s Constructing 4. Picture courtesy of CBRE
Blue Street Investments has damaged floor on West Park Logistics Heart’s Part III, in Santa Teresa, N.M. This final part of building, to incorporate two buildings totaling 646,263 sq. toes, will carry the Class A, master-planned industrial campus to greater than 1.3 million sq. toes. Supply is scheduled for January 2024.
The 425,368-square-foot Constructing 3 will likely be a cross-dock property located on the southeast nook of Industrial Avenue and Strauss Street, whereas the 220,895-square-foot Constructing 4 will likely be a rear-load facility.
Each services are designed to accommodate tenants averaging in sizes between 50,000 to 420,000 sq. toes. CBRE’s workforce of First Vice President Rex Maingot and Senior Vice President & Director Christian Perez Giese are in control of advertising the brand new properties for lease of on the market.
Westpark Logistics Heart is near Interstate 10, some 6 miles from Union Pacific Railroad Intermodal Terminal and The Santa Teresa Port of Entry, 21 miles from El Paso, Texas, and 28 miles from El Paso Worldwide Airport.
READ ALSO: Warehouse Improvement to Drop in 2023: Prologis
The logistics campus at the moment contains the 315,000-square-foot speculative Constructing 1, situated at 655 Industrial Ave., and the 364,500-square-foot Constructing 2, situated at 550 Industrial Ave. Accomplished in 2021 and 2022, the services characteristic 36-foot clear heights, 185-foot truck courts and ESFR sprinkler techniques, CommercialEdge information exhibits.
The developer secured two tenants at Constructing 1: Ergomotion and Tecma. The property’s roster additionally options Valley Chilly Storage & Transportation, MCS Industries Inc. and FedEx Floor.
El Paso, a supply-constrained market
In accordance with ready remarks by Blue Street Investments’ Co-Managing Accomplice, Jeff Hackmeyer, a rising variety of firms are engaged on establishing a presence within the supply-constrained El Paso, Texas, market, contributing to the hassle of main provide chains again into North America.
CommercialEdge information exhibits 5.9 million sq. toes of commercial house are at the moment below building in El Paso, which was the third rising industrial market within the U.S. in 2022. All 15 properties underway are marketed by CBRE.
Earlier in March, MDH Companions entered into a purchase order settlement for the acquisition of a 550,000-square-foot industrial park in El Paso. MDH will not be solely the long run proprietor, but additionally a lender for the property.
In August 2022, Blue Street Investments bought a 326,166-square-foot industrial portfolio of 4 buildings throughout the El Paso market. STAG Industrial bought the absolutely leased belongings.
