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LAREDO, Texas – With a significant 2017 lease in its initial building and a strong level of interest for the remaining available space, Majestic Realty Co. is moving ahead with plans to develop its next warehouse building at Port Grande.
The company’s 200,000 square feet of space in Building #1 represents the largest block of available space in the market. However, strong market activity and economic conditions are triggering the developer’s decision to continue its 100-acre, Phase I development. In the months ahead, Majestic will break ground on Building #2, a 423,280-square-foot building that will feature 32-foot ceiling clearance, 120 dock-high doors, 4 ground level doors, a large, secured truck courtyard, 242 trailer parking spaces and 208 automobile parking spaces.
“We’ve taken a very close look at local and national market conditions, vacancy and absorption rates, product supply and the success we’ve had providing large, high-quality, high-cube industrial space that is the best in the market,” said Majestic Realty Co. Vice President Kyle Valley. “We’re excited about the opportunity to continue the momentum we’ve started in our park this past year and we strongly believe that now is the time to bring the space to the market and deliver a much needed product for the larger users.”
Located just east of I-35 with access from Uniroyal and Carriers Drive, Port Grande is 10 miles from commercial border crossings, has immediate access to Union Pacific Intermodal and offers gated and secured buildings. The park can accommodate buildings up to 2 million square feet in size.
Majestic Realty Co., the nation’s largest, privately-held real estate development company, completed the acquisition of the 2000-acre Port Grande land site from a subsidiary of Mercedes-Benz in 2015. Long-term plans call for Majestic to fully redevelop the site with modern warehouse distribution space to support the growing international flow of commerce between Mexico and the United States. Laredo is the nation’s third largest customs district with annual U.S-Mexico trade totaling $274 billion.
Majestic’s Port Grande seeks to provide local, national, and multi-national users the facilities required to support Mexican trade flow of the nation’s number one inland port. The development further expands the company’s presence in Laredo where it has constructed, leased, and manages more than one million square feet of distribution space.
Celebrating its 70th Anniversary in 2018, Majestic Realty Co. is the largest, privately-held developer and owner of master-planned business parks in the United States. With more than 78-million-square-feet in its portfolio, Majestic provides real estate solutions for tenants large and small, creating jobs, tax revenue and community benefits across the country. Headquartered in Southern California, Majestic has regional offices in Atlanta, Bethlehem, Penn., Dallas, Denver, Fort Worth and Laredo, Texas, Las Vegas, and Phoenix.