Anaya Warehouse, Pharr, TX

Acquired in 2019 in partnership with Frontera Capital Partners, this 110K SF industrial multi-tenant warehouse was majority occupied by the United Parcel Service (UPS) on a long-term lease.  The remaining space, approximately 32K SF, was vacant.  The partnership executed an aggressive marketing plan to attract local prospective tenants to the property and leased up the vacant space with a local logistics company.  As Co-GP partner, Arris Capital Group underwrote the acquisition for the partnership and raised the limited partner equity from high-net-worth individuals.  The property was sold ahead of the business plan schedule by 18 months, resulting in financial returns well in excess of underwriting projections.

Key Investment Stats

Investment Type:Co-GP
Asset Type:Industrial
# of Units/Square Feet:109,737 SF
Market:Pharr, TX
Closing Date:January 2019
Lender:Vantage Bank
Operating Partner:Frontera Capital Partners
Property Manager:The Stone Group
Status:Sold