Majestic Realty is constructing the 423,280-square-foot building 2 at Port Grande Logistics Port.
LAREDO, TX—Laredo does more trade with Mexico than any other city does with any other country, says Majestic Realty Co. In response to the strong bilateral trade environment and demand from a growing list of companies including a 200,000-square-foot lease and full occupancy of its initial building, Majestic is constructing a 423,280-square-foot building 2 at Port Grande Logistics Port set for completion in fourth quarter 2019.
“It's the region's largest speculative industrial building that we can confirm,” Kyle Valley, Majestic Realty Co. senior vice president, tells GlobeSt.com. “There is not as much space on the Laredo side of the border, and while it is not a secondary or tertiary market, it is very important. It surpassed $300 billion in trade last year. It is the third-largest US customs point of entry after the Port of New York. Interestingly enough, it is often not in the conversation although 96% of the trade in Laredo is just with Mexico.”
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
