683 ACRES OF VACANT LAND NEAR LAREDO, TEXAS SOLD
Photo: Download Image
Laredo, Texas (January 13, 2022) – Coldwell Banker Commercial is pleased to have represented the buyer, TDB Land Holdings, Ltd., in the acquisition of 683 acres of vacant land located in the vicinity of the City of Laredo, Texas. The sale price was undisclosed. The buyer plans to develop an industrial park on the site called World Industrial Park.
Andrew Brittingham, ALC, CCIM, a commercial real estate professional affiliated with Coldwell Banker Commercial Rio Grande Valley, represented the buyer in the transaction.
The site, which is currently situated in Laredo’s Extra-Territorial Jurisdiction (ETJ), sits immediately north of Laredo along Interstate Highway 35 in the vicinity of mile marker 18. The buyer plans to work with the city to create a Tax Increment Reinvestment Zone (TIRZ) for the planned industrial park, as it will be submitted for annexation into Laredo in the future.
“Once developed, this first-class industrial park will yield approximately 7.5 million square feet of warehouse space, with immediate access to Interstate 35. The developer will sell lots ranging in size from 2.5 acres to 25 acres, which will help meet the growing demand for small to medium sized businesses, with an option to grow the development site an additional 700 acres. Industrial space demand in the Laredo-Nuevo Laredo Metropolitan Area by developers continues to see increased growth and interest, due in large part to global demand in consumer products, as well as major exports by volume of automobile parts, electronics and produce,” said Brittingham.
About Coldwell Banker Commercial Affiliates
Coldwell Banker Commercial Rio Grande Valley, the local affiliate of Coldwell Banker Commercial®, provides commercial real estate solutions serving the needs of owners and occupiers in the leasing, acquisition and disposition of all property types. With a collaborative network of independently owned and operated affiliates, the Coldwell Banker Commercial organization comprises almost 200 companies and more than 3,000 professionals throughout the U.S. and internationally. For additional information, visit www.cbcworldwide.com
# # #
A Trusted Guide in Commercial Real Estate
Coldwell Banker Commercial® provides Commercial Real Estate Services from Property Sales and Leases, to Property Management. Learn how our expansive network of Independently Owned and Operated Affiliates and Real Estate Professionals use their in-depth knowledge of the local market and industry trends to help businesses and investors navigate the complexities of the commercial real estate landscape.
