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Amazon recently leased a new 307,840-square-foot facility in the Kyle Crossing Business Park where it plans to open a sortation center later this year and will employ more than 200 workers.
The industrial market in El Paso is posting industrial occupancy rates at 96.5% as global brands realize the benefits of having a location on the US-Mexico border, including a 1 million-square-foot spec build by VanTrust.
Cold storage has performed consistently well during times of financial hardship, even during the COVID-19 pandemic. Does this mean a new industrial asset class is forming?
Owned by Principal Real Estate Investors, all three phases combined make Bay Area Business Park one of the largest single-owner industrial parks in Houston at 3.3 million square feet on 232 acres.
With almost 100% of its distribution network serving purely online fulfillment orders, Amazon is best positioned to serve surging e-commerce demand as it directs more control over the order fulfillment process.
While COVID-19's economic impact makes it nearly a given that higher default rates will occur, the economic outlook is a bit rosier than earlier expectations.