Morgan Stanley Real Estate Investing Sells Four Warehouses on the U.S.-Mexico Border for $178 Million
15 Maggio 2024 - 3:00PM
Business Wire
Morgan Stanley Investment Management, through investment funds
managed by Morgan Stanley Real Estate Investing (MSREI), announced
today the sale of a portfolio of four fully leased industrial
properties, two located in El Paso and two in Laredo, Texas, for
$178 million to two distinct institutional investors. The
warehouses, which total more than 1.2 million square feet, are
located within 10 miles of the United States’ border with Mexico,
which is experiencing a sharp increase in manufacturing.
Commenting on the sales, Will Milam, Head of U.S. Investments at
Morgan Stanley Real Estate Investing, said: “We are pleased with
the successful development, leasing and sale of these warehouse
assets. With a greater focus on supply chain resiliency, companies
are increasingly seeking to diversify where they manufacture goods.
One result has been a shift to manufacturing in Mexico and a
dramatic increase in imports into the United States, which is
propelling warehouse demand along the U.S. southern border.”
MSREI commenced construction on the four warehouses in 2022. The
two El Paso properties total approximately 735,000 square feet and
are located just three miles from the Zaragoza Bridge Port of
Entry, which facilitates approximately 70% of loaded trucks
crossing into the United States through Ciudad Juárez, Mexico, a
top North American manufacturing hub.
Similarly, the two Laredo properties, totaling approximately
500,000 square feet, are located nine miles from the World Trade
Bridge. Laredo’s primary commercial border crossing, World Trade
Bridge is the number one overall trade port in the United States
among the nation’s 450 international gateways for trade.
Eastdil Secured and Newmark advised on the sale of the El Paso
and Laredo properties, respectively.
About Morgan Stanley Real Estate Investing Morgan Stanley
Real Estate Investing (MSREI) is the global private real estate
investment management business of Morgan Stanley. One of the most
active property investors in the world for over three decades,
MSREI employs a patient, disciplined approach through global
value-add/opportunistic and regional core real estate investment
strategies. With 17 offices throughout the U.S., Europe and Asia,
regional teams of dedicated real estate professionals combine a
unique global perspective with local presence and significant
transaction execution expertise. MSREI currently manages $53
billion of gross real estate assets worldwide on behalf of its
clients.
About Morgan Stanley Investment Management Morgan Stanley
Investment Management, together with its investment advisory
affiliates, has more than 1,300 investment professionals around the
world and $1.5 trillion in assets under management or supervision
as of March 31, 2024. Morgan Stanley Investment Management strives
to provide outstanding long-term investment performance, service,
and a comprehensive suite of investment management solutions to a
diverse client base, which includes governments, institutions,
corporations and individuals worldwide. For further information
about Morgan Stanley Investment Management, please visit
www.morganstanley.com/im.
About Morgan Stanley Morgan Stanley (NYSE: MS) is a
leading global financial services firm providing a wide range of
investment banking, securities, wealth management and investment
management services. With offices in 42 countries, the Firm’s
employees serve clients worldwide including corporations,
governments, institutions and individuals. For further information
about Morgan Stanley, please visit www.morganstanley.com.
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Media Relations Contact: Alyson Barnes, +1 212 762-0514,
alyson.barnes@morganstanley.com
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