Lease Brings El Paso Spec to 100% Occupied
Impulse 4.0 recently signed a lease to occupy 125,646 square feet of industrial space at 9581 Joe Rodriguez Dr. due to its high-demand warehouse and distribution space in the only new El Paso class-A industrial site.
EL PASO, TX—Impulse 4.0 recently signed a lease to occupy 125,646 square feet of industrial space at 9581 Joe Rodriguez Dr. This industrial building was built by Hanson Asset Management in 2019 and was recently purchased by Equity Industrial Partners and Raith Capital Partners in a joint investment.
This lease brings the speculative development to 100% occupied, with the Equity Industrial Partners and Raith Capital Partners’ El Paso and Santa Teresa portfolio at more than 93% leased.
This property was specifically selected because it provided necessary warehouse and distribution space in the only new class-A industrial building in the El Paso area. In addition, the location offers access to local thoroughfares and the Zaragoza International Bridge to Mexico.
“This lease from Impulse 4.0 fills the last of the speculative industrial space currently available in our market,” said Arturo De la Mora, vice president at CBRE. “As a result of all the favorable indicators we are seeing, the new owners Raith Capital Partners and Equity Industrial Partners will soon start construction to deliver new inventory to meet growing market demands.”
El Paso-based Impulse 4.0 provides end-to-end supply chain management services to manufacturers and suppliers in the United States, Mexico, Europe and China.
“In addition to the fact that this is a brand new construction with 28-foot clear height, a fenced and secured truck court, designated area for overflow trailer parking and LED light fixtures with motion sensors, this building is located in a submarket of El Paso that has historically high demand which is mostly driven by the proximity to the Zaragoza International Port of Entry,” De la Mora tells GlobeSt.com. “The facility is ideal for any logistics company that is looking to service manufacturing companies south of our border. Inventory management services and just-in-time systems that are implemented by many manufacturing companies in Mexico see the tremendous value in having immediate access to this port of entry. The demand for industrial space in our market is outpacing supply. For that reason, the partnership of Equity Industrial Partners and Raith Capital Partners is moving forward with the development of two additional speculative industrial development buildings this year.”
As of fourth quarter 2019, El Paso had just 4% vacancy in the industrial sector, the lowest rate since CBRE began tracking the market.
De la Mora and Andrés Sandoval with CBRE in El Paso represented the landlords, Equity Industrial Partners and Raith Capital Partners. Adrian Slater with Commercial Border Partners represented Impulse 4.0.