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PCCP LLC, Panattoni Development Company and Hunt Companies to Develop 939k sf Industrial Project in El Paso, TX

12/21/23

PCCP LLC and a partnership between Panattoni Development Company and Hunt Companies have formed a joint venture for the development of Project Grande, a two-building speculative industrial development totaling 939.6k sf. The project is located at the southeast corner of Pellicano Dr and Aircoupe Way in the East submarket of El Paso, TX and is over 50% pre-leased. The Class A logistics facilities are currently under construction with completion anticipated in Q3 and Q4 2024.

Situated on approximately 45 acres, Project Grande is well-located within the El Paso industrial market, which benefits from strong fundamentals, including a 3.3% vacancy rate. The project is situated within El Paso’s East submarket and is proximate to Loop 375, I-10, and the Zaragoza International Port of Entry. The project location is beneficial for logistics and distribution, as I-10 allows for movement east and west throughout the U.S. The state-of-the-art industrial buildings are planned with 36’ to 40’ clear heights, ESFR sprinklers, rear-load and cross-dock configuration, and ample trailer parking. Project Grande represents the first phase of a planned 1.8 million sf industrial park.

“PCCP is pleased to continue its relationship with Panattoni Development Company and to partner for the first time with Hunt Companies,” said Michael Johnson, Managing Director with PCCP.

“We believe Project Grande is supported by a strong market that is poised to grow over the next several years and provides users with favorable logistics fundamentals,” said Michael Johnson, Managing Director with PCCP. “Additionally, having the project over 50% pre-leased prior to start of construction is an added bonus and is a testimony to the demand from area users seeking quality product.”

El Paso, along with Juarez, MX and Las Cruces, NM, is part of a bi-national, tri-state trade region known as the Borderplex Region which connects U.S. consumers with manufactured goods and materials from Mexico and Central/South America. The Borderplex Region is the largest bi-national border community at 2.5 million residents who provide an ample workforce for industrial activity. Labor is proximate in neighboring Juarez which is home to top manufacturing firms occupying 78 msf of industrial space and employing over 300,000 skilled workers. El Paso is the logistics hub and gateway to the U.S. market for manufactured product coming out of Juarez, and firms in the region benefit from tax and duty exemptions on inventory brought over and held in El Paso.




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