Although plans are still being finalized for South Ware Roadsite, the complex could measure up to 150,000 sf, with thestructure going vertical for approximately $40 per sf. If all goesaccording to plan, the center could be operational in 2010. Thecenter will be under the auspices the North American ManufacturingResearch and Education Initiative, a consortium of leaders inbusiness, education, government and economic development.

Keith Partridge, president and CEO of the McAllen EconomicDevelopment Corp., says the center was created to help boost astrong manufacturing base not only in the Rio Grande Valley, butthe rest of the US as well. But, it's not the same manufacturingbase from the early to mid-20th century with which most arefamiliar.

"This center is the first in the world exclusively focused onrapid-response manufacturing," Partridge explains. "In other words,taking the product from concept to the marketplace in as short astime as possible." The reason for such a center, he continues, isbecause today's customers want low-cost, customized products andthey want those products now, if not sooner.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.