CBRE Targets El Paso Investors

EL PASO, TX-This far west Texas city has been experiencing exponential growth, development and investment in recent years thanks to drivers such as the military and import/exports. To better "localize" the services backing the financing of that development and investment, CBRE has set up debt and equity financing services out of the company's local office.

Peter Gineris, senior vice president with CBRE's Albuquerque office, has been tapped to oversee capital activities in El Paso. To that end, he'll continue oversight of the well-established Albuquerque debt and equity finance team, while building that same service in El Paso.

"El Paso is considered kind of a small market for Texas, in general," he explains. "What's typical is that someone might run to El Paso from Dallas." But Dallas isn't exactly close – though both cities are in Texas, about 800 miles separate them.

And El Paso continues expanding. It shares a border with Mexico, meaning more demand for industrial space as products flow over the border and make their way into the United States. Furthermore, thanks to Fort Bliss' continued growth, the multifamily market is also tight. Retail following rooftops, too – and those rooftops are growing Also boosting retail are Mexican nationals coming over the border from neighboring Juarez to buy goods.

These fundamentals are leading to increased commercial real estate activity. As such, "we really wanted to have a local presence in El Paso, and to be available to investors on a consistent basis," Gineris tells GlobeSt.com.

As of now, Gineris will be splitting his time between Albuquerque and El Paso. He depend on the client service specialists in the El Paso office – which opened about a year ago – for assistance as well. Once there is enough in the pipeline, he says, someone else might be added.