Provident Realty Advisors has purchased 18.47 acres in El Paso, Texas, near the intersection of Windermere Avenue and Loop 375.
The financial terms were not disclosed, but River Oaks Properties was the seller.
Construction on the 308,270-square-foot speculative class A distribution facility will begin at the end of fourth quarter 2022. The building will feature 32-foot clear heights, a 190-foot truck court, and more than 500 feet of frontage along Loop 375.
“El Paso has long been a target expansion market for our industrial development platform, and we are excited to enter the market with the acquisition of this land site. The visibility from Loop 375 paired with accessibility to the Ysleta-Zaragoza bridge appealed to our team,” said Leon Backes, founder, and CEO.
During the past three years, Provident has rapidly grown its industrial portfolio across the South and Central U.S. Provident owns 14 industrial sites in North Texas, Austin, and Baton Rouge
