Cardinal Industrial Broadens TX Presence With 446K-SF Buy
Cardinal Industrial acquired a two-building industrial portfolio in Texas’ Rio Grande Valley. The portfolio featured a 352,000-square-foot facility at 6900 S. International Pkwy. in McAllen, and a 94,640-square-foot building at 201 W. Anaya Rd. in Pharr. According to public records, the seller was Worthington Property Investments LLC, which is based in Orlando.
JLL’s Dustin Volz, Zane Marcell and Grant Matthews represented Cardinal Industrial. Opinsky & Frampton’s John Opinsky represented the seller. UPS is the primary tenant at the Pharr location, while the McAllen facility houses a Conn’s distribution center.
“Logistic and manufacturing centers along the Texas-Mexico border are seeing increased interest from national and regional investors and tenants, as these industrial products continue to register record low vacancies,” Volz said. “Strong nearby labor pools and the transition of traditional manufacturing, packaging and distribution responsibilities transferring stateside are driving this growing trend.”
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