IndCor, a Chicago-based real estate company focused on the ownership and management of industrial properties, announced this week that it had purchased a 1.1 million square foot industrial property portfolio, known as the 10/375 Industrial Portfolio. The portfolio sold by an institutional seller, who was represented by CBRE, according to a GlobeSt.com article. No price was released for the recent purchase, but the seven buildings have a tax-appraised value of $25.95 million, according to data from the El Paso Central Appraisal district.
"The El Paso market is thriving, and we are very excited to be a part of it," said Stephen Bryan, IndCor's Co-Chief Investment Officer. "These bulk, high-clear height, Class A industrial buildings in the El Paso market boost IndCor's portfolio substantially in Texas."
The portfolio includes warehouse and distribution facilities leased by Handgards Inc., El Paso manufacturer of gloves, food bags and other products, at 12375 Pine Springs; Electrical Components International, a St. Louis-based maker of electrical components for a variety of products, at 12415 Rojas; and ProTrans International, an Indianapolis-based logistics company, at 12425 Rojas. Two of the buildings are at 12420 and 12430 Mercantile. CBRE officials reported that 83% of the seven buildings in the portfolio are currently occupied. Only one building, at 12435 Rojas, is vacant.
For more news and information visit Blumberg Capital Partners.
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