BH Properties Continues Texas Expansion with Acquisition of a 200,000-Square-Foot Industrial Project in El Paso, TX
Follows the California Based Investor’s Purchase of the 150,000-Square-Foot Parkway Centre IV Office Building in Plano, TX in January 2024
El Paso, TX—August 07, 2024–BH Properties, a vertically integrated, value-add real estate investment company with regional offices in both Dallas and Houston, TX, expanded its footprint in the state with the acquisition of 12100 & 12105 Esther Lama Drive in El Paso, Texas. The 203,499-square-foot industrial facility sits on 17 acres and is strategically located adjacent to Interstate 10, just minutes from the US/Mexico border crossing. Brett Preston, SIOR, CCIM and David Hingst of Cushman & Wakefield/PIRES International represented the seller. Terms of the deal are not available.
The state-of-the-art facility was originally constructed by the Tony Lama boot company in 1986 as a primary manufacturing and warehouse facility. Through subsequent acquisitions, it was expanded and improved, remaining a valuable manufacturing facility with extensive climate control and an abundance of secured parking.
“While the national industrial market has cooled from its long run, we have continued to successfully identify unique portfolio expansion opportunities in this important asset class.” said Jim Brooks, President of BH Properties. “Texas industrial continues to be an attractive market and Esther Lama is a terrific property in a key location. We continue to build upon our 25-year investment history throughout Texas, where we own 35 properties representing nearly 5 million square feet.”
“We remain very active in the El Paso market and are excited about this latest acquisition. It’s a quality building that is centrally located near housing, retail and neighboring industrial. The growing trend in onshoring and nearshoring here in the U.S. creates unique opportunities, and this asset is well positioned to accommodate these types of emerging tenants.”
Headquartered in Los Angeles, CA, with six regional offices, BH Properties has been ramping up its acquisition efforts, including the 2024 purchases of the 322,000-square-foot mixed use Anchorage Square in San Francisco, the 335,000-square-foot Pacific Place retail mall in downtown Seattle, the iconic 75,000-square-foot Olympic Block mixed-use office building in Seattle’s popular Pioneer Square, and the 150,000-square-foot Parkway Center office building in Plano, Texas. With the Esther Lama acquisition, the Company owns and operates nearly 10 million square feet across 16 states.
About BH Properties
Founded 31 years ago, privately held BH Properties is a vertically integrated real estate investment company focusing on the acquisition and management of a geographically and product diverse portfolio of assets. The Los Angeles-based company, with six regional offices in San Francisco, Phoenix, Dallas, Houston, Seattle and Riverside, CA, continues to focus on value-add transactions, distressed debt, gap financing, and ground leases.
