Majestic Realty signs first tenant to Port Grande as it closes in on completion of Building #1
LAREDO, Texas – With completion of its Phase I Building #1 in sight, Majestic Realty Co. has signed its first tenant to Port Grande, a 2,000-acre, master-planned Logistics Port, which will have just shy of 200,000 square feet of additional space still available when the 366,080-square-foot building is completed in late August.
An international firm in the automotive industry, the undisclosed tenant is new to Laredo and will occupy 166,400 in a long-term lease agreement, according to Majestic officials.
Building #1, comprised of 366,080 square feet, is the first speculative building in the 100-acre Phase I development and features 32-foot ceiling clearance, 120 dock-high doors, 4 ground level doors, a large, secured truck courtyard, 250 trailer parking spaces and 191 automobile parking spaces.
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.
“With what will be the largest, single block of available space in the marketplace, we’re seeing a tremendous amount of activity and strong interest from a growing number of companies who are interested in calling Laredo home,” said Majestic Realty Co. Vice President, Kyle Valley. “These are companies that may have looked elsewhere in Texas but are excited about the opportunities for their companies here in Laredo.”
Majestic’s Port Grande provides immediate build-to-suit opportunities including a pad-cut, 423,000-square-foot property on 30 acres. In addition, 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.
Founded in 1948, Majestic Realty Co. is the largest, privately-held developer and owner of master-planned business parks in the United States. Majestic’s approximate 83-million-square-foot portfolio 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, Dallas, Denver, Fort Worth and Laredo, Texas, Las Vegas and Bethlehem, Pennsylvania.
Learn more about Port Grande Industrial Park here