EL PASO, Texas – July 31, 2017 – CBRE has been selected to lease the East 10 Industrial Portfolio on behalf of Stonelake Capital Partners (“Stonelake”), after Five Star Development sold the industrial portfolio to Stonelake in June 2017. The 567,830-sq.-ft. portfolio is comprised of four buildings in the East El Paso submarket (Vista del Sol) of El Paso, Texas.
“Stonelake began renovating the properties immediately to bring the Class A industrial buildings back to the quality and standard that warehouse and light industrial users are looking for today. The renovations create significant opportunity for companies looking for space in El Paso. Leasing activity is brisk as we reintroduce the buildings to the markets,” said Mr. Caparis.
Initial renovations include roof repairs, new lighting, new carpet and exterior paint.
The four industrial buildings are located at 12120, 12150, 12160 and 12170 Rojas, within the Vista del Sol Industrial Park, providing immediate access to Interstate 10, Loop 375 and international access to Cd. Juárez, Mexico, via the Zaragoza International Bridge.
Combined, the buildings have 233,254 sq. ft. of space currently available for lease.
With the addition of the East 10 Industrial Portfolio, Stonelake now owns 1.2 million sq. ft. of industrial buildings in El Paso, and a total of 5.0 million sq. ft. throughout the state of Texas. Stonelake plans to acquire approximately 3.0 million sq. ft. of additional industrial in Texas over the course of the next 24 months.