EL PASO (CBRE) – Arizona-based ViaWest Group has purchased a four-building, 245,745-sf industrial portfolio from Sullivan Crosby Trust of New York in an off-market transaction.
The buildings are approximately 50 percent occupied; short-term tenants bring it to 75 percent. They are south of I-10 in central El Paso, a submarket that was approximately 94.7 percent occupied as of fourth quarter 2014, according to CBRE research.
This is the first area acquisition for ViaWest Group. A host of rehabilitation projects are slated for the properties, including new roofs, landscaping, fencing, equipment replacement and more.
CBRE represented the seller and will assume leasing and management duties.
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