More than 1 million square feet of industrial building space may see construction later this year in southeast El Paso in an area of new business and commercial growth.
The private equity firm Stonelake Capital Partners, which is based in both Austin and Dallas, has completed paperwork for the purchase of nearly 70 acres for the project.
Those acres are near the intersection of Eastlake Boulevard and Interstate 10, and some 4 miles away from the Zaragoza Bridge, a busy U.S./Mexico port of entry.
According to the Austin Business Journal, what is being called the Eastlake Logistics Park will “cater to tenants focused on cross-border logistics between the United States and Mexico.”
With work on the Eastlake Logistics Park scheduled to start during the last quarter of this year, the first completed structures will most likely be completed in the early fall of 2022.
Founded in 2007, Stonelake has industrial and residential properties not just in Texas, but also Arizona, Florida, Georgia, and Tennessee.
The company already owns 25 buildings in El Paso, comprising some 2.6 million square feet.
By Garry Boulard