11512 CONFEDERATE DRIVE (EL PASO, TX)
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• 14,250-Square-Foot Industrial Asset Situated on 1.39 Acres
• Metal Construction Featuring 27’ Clear Height, Two Six-Ton Bridge Cranes, and Two Grade-Level Doors
• Loading Dock in Yard Includes Trolly to Transport Materials Into Warehouse
• Fully Fenced Yard with Additional Outside Storage Space
• Ideal Setup for Tenant or Owner-User in Manufacturing and Welding Business
• Easy Access to Montana Ave and Loop 375
Marcus & Millichap is pleased to present the opportunity to acquire the property located at 11512 Confederate Drive in El Paso, Texas. The subject property consists of approximately 14,250 square feet of space and is situated on 1.39 acres of land. The asset features metal construction, 27’ clear height, two six-ton bridge cranes, and two grade-level doors. With additional outside storage space, the fully fenced yard features a loading dock with a trolly to transport materials into the warehouse. This vacant sale is an ideal setup for a tenant or owner-user in the manufacturing and welding business. The subject property has easy access to Montana Avenue and Loop 375.
The East El Paso submarket features a competitive 5.3 percent market vacancy rate with average rents at about $6.16 per square foot. Average market sale price per foot for the submarket is $54 with an average cap rate of 7.9 percent. Distribution and warehouse space constitute for more than 75 percent of El Paso’s overall industrial inventory, and cross-border trade is paramount here. According to the U.S. Department of Commerce, El Paso exports have grown more than 210 percent since 2009, and the metro is among the nation’s leading exporters of goods to Mexico. El Paso’s logistic stock is significantly larger than any other metro within 300 miles. The metro area holds about 48 million square feet of logistics space, while other southwestern metros like Albuquerque, Lubbock, and Tucson only have a fraction of this total. (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, 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.