EL PASO, Texas (January 13, 2016) – CBRE announces two long-term leases for logistics tenants in El Paso, Texas. The buildings are part of a larger industrial portfolio purchased by Phoenix, Arizona-based ViaWest Group in 2015.
Tianhai Electric North America, electronic components manufacturer for the automotive industry, leased 21,809 square feet. The El Paso warehouse location will support the company’s Ciudad Juarez operations plant across the U.S./Mexico border.
Green Bay, Wisconsin-based RES Food Products International, Inc. manufacturer of pickles, sauces, and salad dressings, leased 20,000 square feet for distribution operations.
Since acquiring the four-building, 245,473-square-foot portfolio in March, ViaWest Group has significantly improved the project, including installing new roofing, resurfacing the parking lots and updating the exterior paint. The portfolio is 60 percent occupied.
Arturo De la Mora, with CBRE’s El Paso office, represented the landlord in lease negotiations.
“As a result of the improvements that were done to these buildings, we are experiencing a remarkable interest by distribution and logistics prospects in our market. These buildings have been repositioned as a viable, functional and appealing alternative to those users seeking to relocate or enter this market,” said Mr. De la Mora.
Brad Dales of ViaWest Group adds, “We are really excited about the strong interest in the property since we started and completed our renovations. As one of the few properties in the Central submarket that has a high clear-height, large truck court, and brand new finishes, it is extremely well-situated for distribution tenants.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
About ViaWest Group
Established in 2003, ViaWest Group is a Phoenix-based full service commercial real estate acquisition, development, property management, investment and advisory firm. ViaWest Group manages approximately 2.5MM sf and owns nearly $400MM of assets. ViaWest Group is looking to acquire and develop more office, industrial, retail and commercial land parcels in the Southwestern United States. Visit www.viawestgroup.com or contact Steven Schwarz at (602) 957-8300 ext 2, [email protected] or Gary Linhart at (602) 957-8300 ext 1, [email protected]
