Marcus & Millichap is pleased to present the opportunity to acquire the property located at 12140 Freight Lane in El Paso, Texas, leased to Texas Meter & Device. The subject property consists of approximately 14,020 square feet of warehouse space and is situated on 1.03 acres of land. The single-tenant asset features tilt-wall construction, a clear height of 18’, two concrete platform dock-high doors (one accessible via ramp), two HVAC units, and a secured fenced-in asphalt lot with 12 parking spaces. Situated in an industrial park, highlighted by major logistics companies DHL, FedEx, and XPO, the property has close proximity to the interchange between Interstate 10 and Texas State Highway Loop 375. The property is leased through January 2026 at $10.40 per square foot with a one-year renewal option at the same rental rate. In the case of nonrenewal, this sale offers an owner-user or lease-up investment opportunity. Established in 1937, TMD is a leading national electric metering services company and supplier of safety tools and equipment.
The subject property is located in the East submarket, El Paso’s largest industrial hub, containing 50.5 million square feet of space. During the first quarter of 2025, industrial demand continued to rebound, with net absorption posting 645,000 square feet. As a result of net absorption outpacing 218,000 square feet of net deliveries, the vacancy rate receded from its record-high by 90 basis points to 13.1 percent. However, among comparable properties under 50,000 square feet in the East submarket, the vacancy rate remained low at 4.3 percent. Across the East submarket, annual rent growth lies at 2.4 percent. In Q1, market rents averaged about $8.50 per square foot for all East industrial properties and $10.60 per square foot for comparables. At the start of Q2, there were 3.6 million square feet of industrial space under construction in the East submarket, nearly all concentrated in properties of at least 50,000 square feet (CoStar).
The El Paso metro is located at the westernmost corner of Texas, bordering New Mexico and the state of Chihuahua in Mexico. It is composed of El Paso and Hudspeth counties. Access to Mexico plays a major role in the local economy. The city of El Paso, when combined with Las Cruces, New Mexico, and Ciudad Juarez in Mexico, is sometimes referred to as the international metropolitan area of Paso del Norte and has one of the largest bilingual and binational labor pools in the western United States.
As the largest metro along the Texas-Mexico border and the sixth-largest city in Texas, El Paso is a top 20 percent U.S. performing economy and represents one of the largest manufacturing centers in North America. Recognized as globally competitive, the region boasts the largest bilingual and bi-cultural workforce in the Western Hemisphere (elpasotexas.gov). El Paso was a finalist for the 2018 National League of Cities “All-America City,” 2018 Best of Texas Awards, and WalletHub’s #1 Best Run City in Texas in 2017. In 2018 alone, El Paso County added 4,200 jobs. Major employers include Pacific Union Financial, UPS, Veritas Management Group, and iFly.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2025 Marcus & Millichap. All rights reserved. (Activity ID: ZAF0490216)
