Blue Road Investments has broken ground on Westpark Building 1 in Santa Teresa, New Mexico. Here is a statement from CBRE:
The 315,000-square-foot speculative industrial building will set a new standard in functionality for the region with cross-dock loading, 36’ clear height and 185’ concrete truck courts.
The building will be located at 655 Industrial Avenue within Westpark Logistics Center, a master-planned industrial park strategically located between the Union Pacific Railroad Intermodal and the Santa Teresa Port of Entry.
“We are thrilled to add much needed Class A product to the market so that regional, national, and international companies can continue to relocate and expand into Santa Teresa and the Borderplex region” says Jeff Hackmeyer of Blue Road Investments.
This is the first spec building in Westpark Phase I, where Blue Road has capacity for an additional 1 million square feet of future development. Current tenants in Westpark include FedEx Ground, MCS Industries and Valley Cold Storage.
“The Santa Teresa submarket of El Paso has been remarkable in recent years, during one of the most active industrial cycles ever seen along the El Paso/Cd. Juarez border ” says Christian Perez Giese, Senior Vice President and Director at CBRE in El Paso. “Many of the new firms entering the market have chosen Santa Teresa, causing an upswing of investment and construction. There are several operational advantages to working in New Mexico and we’re excited to partner with Blue Road as the market continues to grow.”
The project broke ground on June 1 with an estimated delivery date of January 2021.
Mr. Perez Giese is the Director of the CBRE office in the region. CBRE, under Senior Vice President Anthony Mash, is representing Blue Road in marketing this space.
About CBRE Group, Inc. CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
About Blue Road Investments, LLC. Based in Dallas, Texas, Blue Road Investments focuses on institutional quality warehouse distribution facilities in non‐major markets. Blue Road aims to acquire existing industrial assets as well as developable industrial land. Blue Road also seeks to provide joint venture equity on ground up developments with strategic development partners in select markets. Please visit our website at www.blueroadinvestments.com.