CBRE Sells Four-Building Industrial Portfolio In El Paso

EL PASO, TEXAS — CBRE has arranged sale of a four-building, 245,745-square-foot industrial portfolio in El Paso, on behalf of New York-based Sullivan Crosby Trust. Phoenix-based ViaWest Group purchased the portfolio in an off-market transaction for an undisclosed price. Christian Perez Giese, William Caparis, Anthony Mash and Arturo De la Mora of CBRE’s El Paso office represented the seller. The buildings are 50 percent occupied, with short-term tenants bringing it to 75 percent occupancy. According to CBRE Research, the central El Paso submarket is approximately 94.7 percent occupied as of the fourth quarter of 2014. This is the first El Paso-area acquisition for ViaWest Group. A host of rehabilitation projects are slated for the properties, including new roofs, landscaping, fencing and equipment replacement.