PHILADELPHIA–(BUSINESS WIRE)–Binswanger Commercial Real Estate Services, an innovator in commercial real estate since 1931, today announced that it has secured a buyer for the Oradel Industrial Center located at Bulevar World Trade Center 101 Pte, Parque Industrial Oradel, Nuevo Laredo, Mexico. The property sits less than ten miles from the Gateway to the Americas International Bridge which accounts for 40% of US-Mexican trade –the most trafficked American trade route. FINSA purchased a 2.6 million square foot portion of the park for $145,500,000. The balance of the portfolio, which is four buildings and roughly 500,000 SF, is slated to close by the end of the year with an anticipated value of roughly $50,000,000. Oradel is the largest portfolio sale along the Texas border.
The Binswanger team responsible for the transaction was comprised of five brokers –three from the United States out of Binswanger’s Headquarters in Philadelphia, PA (David Binswanger, Josh Haber, and Jason Kramer), and two from Binswanger Mexico (Luis Manuel Gerard and Karl Binderberger).
“We were extremely pleased to see the level of interest from around the world for this portfolio,” said Josh Haber, Senior Vice President & Partner, Binswanger. “As global corporations rethink their manufacturing and distribution strategies to get products to the customer as quickly and cost-effectively as possible, a portfolio like this garnered significant attention from a variety of multi-national prospective buyers.”
In late 2020, Binswanger was named exclusive agent to market the Oradel Industrial and Rail Park Portfolio. The property consists of 16 Class-A industrial buildings totaling 3,300,000 Square Feet. The complex houses companies from a variety of business sectors including the medical industry (47%), logistics (14%), automotive (14%) and manufacturing (8%). The multi-national tenants include Medline, Caterpillar, and Smurfit Kappa.
“Most deals like this, offering border access to the US market, border California, not Texas,” said Luis Manuel Gerard, Chairman, Binswanger Mexico. “Oradel’s proximity to the NAFTA Highway affords international companies in Mexico more efficient access to customers on the eastern seaboard than California. With its excellent road and rail connections, qualified labor force, and proximity to the US border, Nuevo Laredo is an excellent location to service the US market. FINSA clearly understands the growth potential of Nuevo Laredo.”
Over the last 10 years, Nuevo Laredo has shown constant growth with single-digit vacancy rates and an inventory 13 million square feet at the end of 2020.
Oradel represents one of the most important Class-A industrial properties in Mexico. The nearby border crossing accounts for $324 Billion in annual trade with more than 14,000 trucks and 1,800 rail car crossings each day.
Binswanger, a global leader in full-service commercial real estate, has been helping its clients realize their full real estate potential since 1931. Founded by real estate innovator and pioneer, Frank Binswanger Sr., the company operates with the understanding that real estate has the ability to strengthen businesses and transform communities. The company offers a variety of services benefitting both owners and occupiers including global real estate brokerage, location consulting, investment sales, tenant representation, corporate advisory, strategic consulting, and a variety of management services. Having worked with more than half of the Fortune 500, the employee-owned company has long been known as the industry leader in the acquisition and disposition of industrial and commercial facilities around the globe. For more information, please visit www.binswanger.com.