28
LAREDO, TEXAS — A joint venture between Indianapolis-based developer Scannell Properties and Atlanta-based Invesco Real Estate has broken ground on a 586,667-square-foot industrial project in the Rio Grande Valley city of Laredo. The project represents the second phase of a larger development known as Laredo Logistics Crossing and will comprise two buildings totaling 327,600 and 259,067 square feet. Combined, the buildings will offer parking for 508 cars and 243 trailers. Phase II is slated for a fourth-quarter completion. Scannell completed the 401,100-square-foot initial phase of Laredo Logistics Crossing in May 2023 and subsequently sold the property to Invesco.