(Read more on the industrial market.)

EL PASO-While preparing for its 2.1-million-sf, mixed-use Five Star H.E. Distribution Center for a Q2 2008 groundbreaking, Five Star Development Group Inc. is also looking ahead. Using the $150-million, 109-acre, mixed-use “green” center as a prototype, the company is planning a similar development in Phoenix, as well as targeting additional land throughout the Southwest to build Leadership in Environmental and Energy Design-certified centers.

“We’re hoping to build these green centers from now on, everywhere we build,” comments Jerry Ayoub, president of the Scottsdale firm. He says two things drove the decision to go LEED. “For one thing, companies are aware of rising energy costs, and are doing what they can to save money. A LEED-certified building helps.” Additionally, “we try to build responsibly,” Ayoub says.

Five Star bought its acreage for the Five Star H.E. Distribution Center in August, and Ayoub tells GlobeSt.com that the plan was to build a LEED-certified complex ever since the company began negotiations some years ago to buy the land from a local individual.

Located next to the Zaragoza Port of Entry between the US and Mexico, the project will have Texas Loop 375, Joe Battle Highway, slicing through it. Ayoub says that the land closest to the Mexican border will contain industrial and warehousing development. On the other side of the road, Five Star will develop a retail component on 50 acres.

“This is a wonderful piece of land,” he comments. “It’s close to the bridge, and it circles US customs so trucks can come across, enter into the park, unload and return to Mexico, without officially having to enter the US.” Ayoub says the park will also have a refueling station. A general contractor has not been selected, but PSRBB Architects in El Paso is handling the design. Five Star does its own leasing.

The first phase will consist of two industrial buildings, one measuring 360,000 sf and the other 525,000 sf. Ayoub says Five Star is in negotiation already with a Fortune 500 prospect that might be interested in leasing half of the smaller building.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


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.

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.