Hager Pacific targets Texas border town

McALLEN – In a strategic buying spree, California-based Hager Pacific Properties (HPP) acquired eight properties in 90 days, of which four are in the border town of McAllen.

HPP acquired four multi-tenant industrial buildings in McAllen as part of an eight property, $20 million deal. The firm owns approximately 700,000 sf in McAllen, making it the largest private investor of industrial real estate in the market.

“Demand in McAllen is directly correlated to the strength of the Mexican economy which we believe has great potential,” said Rob Neal, Managing Partner with HPP. “The majority of our tenants are suppliers to companies manufacturing in Mexico. We are thrilled with the performance of our assets in McAllen.”

Other properties in the deal include

a distribution building in Central Los Angeles, Calif.;
an R&D complex in Pasadena, Calif.; and
two land sites near the Ports of Los Angeles and Long Beach.

Source: Globe St.