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.
