Texas Border Business
McAllen, TX – Gleco Plating, Inc. has purchased a 54,000-square-foot industrial warehouse located at 3800 W. Ursula Avenue in McAllen, Texas. This new space will serve as both a relocation and expansion for the company.
Carlos Telles with CBRE in McAllen represented Gleco Plating. Daniel Galvan with Coldwell Banker represented the seller, Goldman Family Management Trust.
“The McAllen industrial market is very tight right now with very little availability, both to lease or to buy,” says Carlos Telles, Senior Associate at CBRE. “In a strong move, Gleco Plating wanted to secure an industrial space before there were no more appropriate options in the market. This facility will allow them the space they currently require with ample room for future expansion if needed.”
Gleco Plating plans to occupy 34,000-square-feet of the building. Mr. Telles is marketing the remaining 20,000-square-feet for lease.
“We knew that we wanted to secure a large facility in McAllen’s Southwest submarket,” says Jeff Fodge, President of Gleco Plating, Inc. “Through CBRE, we were able to find and purchase the ideal warehouse that will allow us to have a firm footprint in the McAllen market.”
Jonathan Barker and Malcolm Coleman with CBRE’s Valuation & Advisory Services provided the appraisal for the property. Financing was provided by Inwood National Bank.
