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Port Grande Majestic Realty signed a pre-lease agreement with a single user for building two shown in the background.

LAREDO, TX—Weeks away from completion of the region’s largest speculative industrial building, Majestic Realty Co. signed a pre-lease agreement with a single user for the entire 423,280-square-foot building two at its Port Grande Logistics Port. Source Logistics, a logistics and supply chain provider to a wide range of retail and e-commerce companies, will more than double its current footprint in Port Grande this month, taking full occupancy in the region’s largest speculative construction on record.

Trace Elrod of Newmark Knight Frank represented the tenant and Majestic Realty Co. was represented by Carlo Molano of Forum Commercial Real Estate. Terms of the long-term lease agreement were not disclosed.

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Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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