MDH Buys Unfinished El Paso Industrial Park

The development is not scheduled to come on line until the fall, but that didn’t stop MDH Partners from acquiring the Loop 375 Industrial project in El Paso. Loop 375 is a three-building, 554,960-square-foot development. The site is on 36 acres and the development consists of 191 trailer parking spaces, 230 car parking spots. It has a clear height of 32-36 feet.

Bret Felberg and Jeff Morris of Colliers represented the seller and developer, Houston-based NIT Industrial, in the transaction. MDH Partners also provided NIT Industrial with mezzanine debt to complete construction. The financing is interrelated with the senior construction loan, which was provided by Veritex Community Bank. CBRE is leasing the development.

MDH says it targets multi-tenant “last mile” facilities for its acquisitions and Class A logistics centers in its new developments, and built a portfolio to serve today’s booming e-commerce needs along with traditional local, regional, and national distributors.