JLL Capital Markets experts complete sale of New Mexico industrial asset
JLL announced today the successful acquisition and disposition of 150 Earhardt Way
Santa Teresa, NM, July 8, 2019 – JLL announced today the successful acquisition and disposition of 150 Earhardt Way, a 92,325-square-foot, three tenant industrial building located in Santa Teresa, New Mexico, 13 miles northeast of El Paso, Texas.
JLL’s Zane Marcell and Dustin Volz led sales efforts on behalf of the seller, GBP Santa Teresa, LLC. Adin Brown of Sonny Brown Real Estate was retained by the JLL investment sales team as the local, on the ground market expert in the transaction. The asset is currently 100% leased to three tenants and was sold to investment group BRI Earhardt, LP
“150 Earhardt provided a unique opportunity to acquire a quality, fully leased industrial asset in the Santa Teresa, NM, one of El Paso MSA’s smallest yet healthiest submarkets,” said Marcell. “It’s accessibility and proximity to several distribution hubs and the maquiladora network, as well as the continued demand for quality industrial space make this sale a win-win for all parties involved.”
The property is located within the Santa Teresa Intermodal Park adjacent to the Doña Ana International Airport, the Union Pacific Intermodal Terminal and minutes from Interstate 10.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2017 alone, the firm’s 2,000 Capital Markets specialists completed $170 billion in investment sale and debt and equity transactions globally.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 91,000 as of March 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.