Equity Industrial Partners (EIP) and Raith Capital Partners have broken ground on a new, 123,966-square-foot, Class A industrial facility in El Paso, Texas. The property will be located at 9541 Joe Rodriguez Drive.
Construction started in March of 2020 with an expected completion of December 2020. The architect, Loya Wilke Architects, and contractor, Jacob CM, are locally based in El Paso. Arturo De la Mora and Andrés Sandoval with CBRE in El Paso are representing EIP and Raith in the marketing and leasing of the development.
“EIP and Raith continue to show that they are vested in both our market and in their tenants,” said De la Mora, vice president at CBRE. “Given the strong market fundamentals, the implementation of their construction plans continues at full speed as we continue to see a lack of available Class A facilities in El Paso.”
The facility will be strategically located near the Zaragoza International Port of Entry and will provide tenants with a fenced and secured truck court area, overflow trailer storage, 28-foot clear height, LED lighting with motion sensors and ESFR sprinkler system.
In addition to this development, EIP and Raith have plans to begin a second speculative construction project later this year. EIP and Raith purchased more than 20 industrial buildings and 39 acres of land in mid to late 2019 via separate portfolio acquisitions from IDI Logistics and Hanson Asset Management.