MDH Partners acquired a 129,301-square-foot, single-tenant industrial facility at 302 Grand Central Blvd. in Laredo, Texas, fully leased to DHL Global Forwarding.
The building is located minutes from the World Trade Bridge, the busiest commercial land crossing in North America. Craig Tomlinson of Northmarq represented the seller in the transaction. Makenna Barbara, senior associate, acquisitions, at MDH, sourced the deal for the firm.
Built in 2000 within the Milo Industrial Park, the property features 44 dock-high doors, 47 trailer parking stalls, rail service via Union Pacific and a fenced, secured yard – infrastructure suited to the cross-border trucking and brokerage operations DHL runs from the site. DHL has continuously occupied the building since 2001 and became its sole tenant in 2007.
The Laredo acquisition caps the most active summer, from a transaction standpoint, in MDH’s history. Including this deal, the firm will have closed eight deals and invested more than $425 million, including $266 million in equity, in just over 60 days. In addition to its newest closing, this includes: New Century Commerce Center near Kansas City, Missouri; Seefried O’Hare in Chicago; Serrano Industrial Park in Jurupa Valley, California; Lakeland Commerce Center in Lakeland, Florida; Sawgrass Distribution Center in Sunrise, Florida; 70 Connect III in Greenfield, Indiana; and Lakeshore Building C in Kannapolis, North Carolina, a suburb of Charlotte.
