Real Estate

Brennan Kicks Off 394 KSF Facility Near US-Mexico Border

Brennan Investment Group has started construction on a Class A industrial facility totaling 393,796 square feet in Laredo, Texas. The property is scheduled to come online in December 2024. Forum Commercial Real Estate will provide leasing services.

Connecticut-based Grandview Partners is the joint venture partner of Brennan, according to Rebusiness Online.

The project is taking shape at 21540 Kraus Loop and is designed as a cross-dock facility that will include 32-foot clear heights, ESFR sprinkler systems, 60-foot speed bays, 156 overhead doors, four ramps, 199 trailer parking spots and 152 vehicle parking spots.

The 24-acre development is within Pinnacle Industry Center, a 1,390-acre master-planned park. It will also be across the street from Millennium Industrial Park and 7 miles from World Trade Bridge, 15 miles from Laredo International Airport, 16 miles from Colombia Bridge and within 18 miles from Nuevo Laredo, Mexico.

Pinnacle Industry Center includes 130 acres with M 1 zoning for light industrial use. Lots within the master-planned park are in various stages of pre-development or construction. It includes companies such as Landstar Transportation Logistics, Siete Industrial, Crossdocking & Warehouse Systems, Braniff Forwarding Inc. and Tailwind.

Forum Commercial Real Estate’s Managing Principal Carlo Molano, Vice President Mike Rodriguez, Junior Associate Alfonso Jasso, together with Brennan’s Vice President Hildeberto Moreno are in charge of marketing the industrial project for lease.

The news comes after Brennan, in a joint venture with Investcorp, expanded its footprint in the West and Southeast regions with a significant investment. One of the industrial portfolios the venture acquired was the Montbello Industrial Park in Denver, which totals more than 855,000 square feet.

Laredo becoming an industrial hotspot

Since Mexico became the largest exporter to the U.S. last year, Laredo quickly rose as a major preference for investors like Brennan Investment Group. The company formed a new U.S. border division, focused on making investments across the U.S.-Mexico boundary and covering an area of 1,600 miles—from San Diego, Calif. to Brownsville, Texas.

According to Fitch Ratings, Mexico’s industrial market attracted $18.6 billion in foreign investments in the first quarter of 2023, representing a 48 percent increase year-over-year. With companies such as Tesla looking to expand here, the 916 million square feet of industrial space in Mexico’s major cities will likely rapidly grow.

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