Gateway Industrial Park
The Challenge 
We sold an 8 ½ acre industrial parcel to a client for a potential industrial development site. We needed to help design a property that would be economically viable, hit the market at the right time and create a long-term hold asset for the ownership. We met with the selected architect and general contractor over a two year period of time to develop a Class A industrial project that would not only meet the current market but be functional for years to come while waiting for the market conditions to change.
The Solution
A two building design was established with an initial 36,000 square foot speculative building to be followed by a 64,000 square foot second phase building to best maximize the site. The first building was completed in April 2006 and was 100% leased by September of the same year. The larger phase two building was completed in January of 2008 again as a 100% speculative project with no pre-leasing in place. Phase Two met a much more difficult market but with strong leasing efforts completed the initial 80% lease-up by July and was 100% leased by October of the same year.
With an attractive split-face block design, ESFR sprinklers and a strong dock to drive-in door ratio for each suite, this project met the owners full objectives and will be a competitive buildings well into the future. This project was recognized by the New Mexico NAIOP Chapter as one of the top industrial developments of 2008!
