CBRE has been selected to lease the East 10 Industrial Portfolio on behalf of Stonelake Capital Partners ("Stonelake"), after Five Star Development sold the industrial portfolio to Stonelake in June 2017. The 567,830-sq.-ft. portfolio is comprised of four buildings in the East El Paso submarket (Vista del Sol) of El Paso, Texas.
William Caparis and Arturo De la Mora of CBRE's El Paso office are the exclusive leasing advisors.
"Stonelake began renovating the properties immediately to bring the Class A industrial buildings back to the quality and standard that warehouse and light industrial users are looking for today. The renovations create significant opportunity for companies looking for space in El Paso. Leasing activity is brisk as we reintroduce the buildings to the markets," said Mr. Caparis.
Initial renovations include roof repairs, new lighting, new carpet and exterior paint.
The four industrial buildings are located at 12120, 12150, 12160 and 12170 Rojas, within the Vista del Sol Industrial Park, providing immediate access to Interstate 10, Loop 375 and international access to Cd. Juárez, Mexico, via the Zaragoza International Bridge.
Combined, the buildings have 233,254 sq. ft. of space currently available for lease.
With the addition of the East 10 Industrial Portfolio, Stonelake now owns 1.2 million sq. ft. of industrial buildings in El Paso, and a total of 5.0 million sq. ft. throughout the state of Texas. Stonelake plans to acquire approximately 3.0 million sq. ft. of additional industrial in Texas over the course of the next 24 months.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
About Stonelake:
Stonelake Capital Partners, LLC is a real estate private equity firm with offices in Austin, Dallas and Houston. Stonelake acquires and develops industrial, multifamily, office and retail properties and owns over $2 billion of commercial real estate in Texas.
Stonelake manages institutional capital through discretionary private equity investment partnerships and counts among its investors some of the country's largest college endowments, charitable foundations and hospital systems. Stonelake has raised four (4) private equity funds over the last 10-years, with Stonelake's fourth fund, Stonelake Opportunity Partners IV, LP, closing in 2016 with $262 million in capital commitments. Stonelake was founded in Austin, Texas in 2007 by Kenneth Aboussie and John Kiltz.
More Info: https://www.cbre.us/elpaso
