800,000 SF goes in McAllen, El Paso buy800,000 SF goes in McAllen, El Paso buyhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=74452013-05-09T06:50:00Z2013-05-09T00:00:00Z

McALLEN, EL PASO - Sixteen buildings totaling more than 800,000 sf in McAllen and El Paso have been acquired by Hager Pacific Properties. Hager Pacific acquired the distressed assets from CIII Capital Partners for approximately $17 million in an all-cash transaction.

Of the 16 properties in Hager Pacific’s new portfolio, 11 are in McAllen, ranked seventh in CNN’s 2012 list of fastest growing cities in the U.S.

Meanwhile, El Paso is a strategic location where warehouses are primarily used to either store raw materials bound for the Juárez maquiladoras or store outbound finished products.

Hager Pacific is now one of the largest industrial real estate owners in the El Paso and McAllen markets, and continues to pursue industrial investments priced at $3 million and greater throughout the United States.

Listen to Podcast 171 for this story and more!

http://www.marketwire.com/press-release/hager-pacific-acquires-16-building-industrial-portfolio-in-texas-1787267.htmRead more at {Source}

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