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DRA Nabs 210K SF Distribution Center in McAllen
New York City-based investment group DRA Advisors recently purchased a 210,000-square-foot multi-tenant distribution center on 12 acres at 6800 South International Parkway in McAllen, TX. The building offers 60 percent cold storage.
The facility is located on part of the Rio Grande Valley pathway for cross-border trading and along a strong distribution corridor. It is within 2 miles of the Anzalduas International Bridge to Mexico and the McAllen International Airport, and 11 miles from Reynosa, one of the largest industrial cities along the Mexican border. The McAllen-Reynosa pathway can save companies 20 to 25 percent in transportation costs and an average of three days of shipping time.
Advisers Tom Duke and Donald Flynn of Elegran Capital & Advisory, who repped both the buyer and the seller in the off-market deal, said the buyers are very bullish on the Rio Grande Valley market and looking to take advantage of the institutional asset that is already occupied by reliable tenants.
- ◦Sale/Acquisition
