Coldwell Banker Commercial represented the buyer, TDB Land Holdings, Ltd., in the acquisition of 683 acres of vacant land in the vicinity of the city of Laredo, Texas. The sale price was undisclosed. The buyer plans to develop an industrial park on the site called World Industrial Park.
Andrew Brittingham, a commercial real estate professional affiliated with Coldwell Banker Commercial Rio Grande Valley, represented the buyer in the transaction.
The site, which is currently situated in Laredo’s Extra-Territorial Jurisdiction, sits immediately north of Laredo along Interstate Highway 35 in the vicinity of mile marker 18. The buyer plans to work with the city to create a Tax Increment Reinvestment Zone for the planned industrial park, as it will be submitted for annexation into Laredo in the future.
Once developed, the industrial park will yield about 7.5 million square feet of warehouse space, with immediate access to Interstate 35. The developer will sell lots ranging in size from 2.5 acres to 25 acres.
