A growing development firm with offices in Albuquerque is launching the construction of a big speculative building on the west side of the city.
The facility, measuring just under 150,600 square feet, will go up inside the Westpointe40, a newly created business park at the intersection of Interstate 40 and 98th Street.
The project belongs to Titan Development, which also has offices in Austin, Texas, a 23-year-old diverse development and real estate investment firm.
The new structure at Westpointe40 is described as both a Class A and institutional-grade facility, and will include warehouse, distribution, and light manufacturing space. The building also features a rear-load configuration, 32-foot-high clearance, and high dock and grade level doors.
Some 54,000 square feet of the structure is already pre-leased.
In a statement, Sal Perdomo, Titan’s director of acquisitions and development, said that pre-leasing “not only demonstrates the strong demand for industrial space in our area, but also the trust that comes in developing with Titan.”
Since 1999, Titan has completed more than $2.5 billion in real estate development projects in Arizona, California, Colorado, Florida, New Mexico, Texas, and California.
In late May, the company purchased a master-planned industrial park in the city of Hutto, Texas, nearly 30 miles to the northeast of Austin. The 188-acre Hutto Mega TechCenter is expected to see construction of structures ranging in size from 200,000 to 1 million square feet, primarily serving tech and light industrial companies.
By Garry Boulard
