LAREDO, TX—With a significant lease in its initial building in 2017 and a strong level of interest for the remaining available space, Majestic Realty Co. is moving ahead with plans to develop its next warehouse building at Port Grande. The company's 200,000 square feet of space in building one of the master-planned project represents the largest block of available space in the market.

However, strong market activity and economic conditions are triggering the developer's decision to continue its 100-acre phase I development. In the months ahead, Majestic will break ground on building two, a 423,280-square-foot building that will feature 32-foot ceiling clearance, 120 dock-high doors, four ground-level doors, a large secured truck courtyard, 242 trailer parking spaces and 208 automobile parking spaces.

“We've taken a very close look at local and national market conditions, vacancy and absorption rates, product supply and the success we've had providing large, high-quality, high-cube industrial space that is the best in the market,” said Majestic Realty Co. vice president Kyle Valley. “We're excited about the opportunity to continue the momentum we've started in our park this past year and we strongly believe that now is the time to bring the space to the market and deliver a much-needed product for the larger users.”