Morgan Stanley Investment Management, through investment funds managed by Morgan Stanley Real Estate Investing (MSREI), has sold 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.
“With a greater focus on supply-chain resilience, 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,” said Will Milam, head of U.S. investments at Morgan Stanley Real Estate Investing.
MSREI commenced construction on the four warehouses in 2022. The two El Paso prop
