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6/26/23
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A Texas-based investor purchased a two-building, 79.9k sf industrial facility in Laredo, TX for $9.15 mil ($115/sf). The property, located at 13806 N. Unitec Dr, was sold by Stos Partners, who acquired the asset in March 2022 for $5.15 mil.
Built in 2001 and renovated earlier this year, the property features 21 loading bays, 22-foot clear height ceiling and ample parking lot with 53 surface parking spaces. Stos implemented a value-add strategy and capital improvement program which included a new roof, parking lot, exterior painting, dock upgrades and interior renovations. The firm also re-tenanted the complex to a single user, Cargoquin Incorporated, a leading industrial logistics provider.
“Laredo has one of the tightest industrial markets in the country with a vacancy of approximately 1.8% in 2022 and minimal new construction,” commented Jason Richards, Partner at Stos Partners. “The Laredo port is one of the busiest in the United States, with trade volume reaching $250 bil in 2021 and $145.1 bil through the first six months of 2022.”
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