VanTrust Real Estate, LLC (VanTrust), a full-service commercial real estate development company, has recently executed six leases, reaching full occupancy in Phase I of its 59-acre speculative logistics park in east El Paso, Texas. Completed in September 2021, Phase I of the El Paso Logistics Park consists of four buildings, totaling 514,135 square feet, located between Mercantile Avenue and Paseo Del Este Boulevard, near Bill Burnett Drive.
The leases are as follows:
- Building One (12431 Mercantile Avenue):
- Avanza Loop, Inc., an expert logistics operator – 128,754 square feet; represented by Arturo De la Mora of CBRE
- Building Two (12230 Paseo Del Este Boulevard):
- DSV Air & Sea, Inc., a global transport and logistics company – 142,865 square feet; represented by Chad McCleskey of CBRE
- Building Three (12220 Paseo Del Este Boulevard):
- OLA Logistics, LLC, a cargo and freight company – 76,848 square feet; represented by David Hingst of PIRES International
- Interceramic, Inc., a leading precision-crafted tile manufacturer – 44,410 square feet; represented by Steve Berger of CBRE Dallas and Chad McCleskey of CBRE El Paso
- Building Four (12425 Mercantile Avenue):
- Buckland Global Trade Services, Inc., a customs and global trade logistics company –66,065 square feet; represented by Andres Sandoval of CBRE El Paso
- Uni-Trade Forwarding, a logistics services company – 55,193 square feet; represented by Arturo de la Mora of CBRE
The landlord representation for each transaction was Bill Caparis and Arturo De la Mora of CBRE El Paso. Jordan Foster Construction, LLC was the general contractor for Phase I of the El Paso Logistics Park and the architect was PSRBB Industrial Group, Inc.
“As the world’s largest border community, the El Paso/Ciudad Juarez, Mexico region has undeniable strategic advantages for logistics companies, motivating leading organizations to move into the area and capitalize on its competitive industrial center,” said Josh Meredith, director of development at VanTrust. “As shown by these six leases in just the first two quarters of 2022, the ‘Borderplex’ has become the place to be and will be the market to watch for years to come.”
Tenants of El Paso Logistics Park are conveniently located within five miles of the Zaragoza Bridge, one of the busiest international points of commercial entry in the country and have direct access to I-10, the fourth-longest interstate in the nation that extends cross-country from the Pacific Ocean to Jacksonville, Florida. In addition, the El Paso Logistics Park has access to rail lines, two international airports and five international crossings and is located within Foreign Trade Zone (FTZ) No. 68, providing all industrial residents with tax and duty exemptions on eligible inventory.
El Paso continues to see strong, record-setting industrial demand, closing the first quarter of 2022 with more than 945,575 square feet of net absorption and under 1.6 million square feet of leasing activity. During the same timeframe, the market-wide vacancy rate fell by 160 basis points (bps) compared to Q4 2021, now at a record low of 1.5%, according to CBRE.