El Paso Real Estate Company Expands
 Las Cruces Sun-News
| | William Sanders and Ron Blankenship (far right), co-chairmen of Verde Realty, standing in Verdes Zaragoza Corporate Center in El Paso, Texas. |
An El Paso-based company that hopes to build thousands of homes near Santa Teresa as part of its goal to to be, what it calls "the leading owner/operator of corporate facilities on both sides of the U.S.-Mexico border," announced that it has expanded its holdings.
Verde Corporate Realty Services announced that it has acquired a 138 acre tract less than four miles from the Otay commercial border crossing in Tijuana, Mexico. According to a release, "When fully developed, this new manufacturing and logistics park, Verde Alamar, will have more than 2 million square feet of corporate facilities. This is Verde's fourth major acquisition in Tijuana and compliments Verde's holdings of almost 1 million square feet in this growing market."
The company reports that, "this acquisition in Tijuana significantly expands Verde's development and build-to-suit capability in this strategic location. This is the largest tract of land in close proximity to the area's only commercial border crossing. Over the past 18 months, Verde has developed and leased 747,318 square feet of corporate facilities in the Otay market of Tijuana."
In addition to Santa Teresa and Tijuana, Verde has a presence in Juarez, Chihuahua City, Reynosa, Monterrey, El Paso, Laredo, McAllen, San Antonio and Houston.
Last year, company vice presidents Jack Darnall and Gilbert Mesa spoke about the company's plans for a development in Santa Teresa that the company hopes will become the equivalent of one of the largest cities in the state of New Mexico.
Verde plans to begin with a 1,000-acre housing subdivision called Village 1 that could end up with more than 4,000 homes. Mesa said the phase will be developed during the next 10 years or so.
"We want to create a community where people can live, work and play," he said. "We want traditional neighborhoods where people interact with each other. A place where people can live close to schools, close to parks and close to employment areas."
All told, Verde Realty controls about 20,000 acres and one day envisions a population of 75,000 to 100,000 people for the area.
"By the year 2025, if we can achieve that pace, there'll be in the neighborhood of 14,000 to 18,000 jobs added to the area and that adds almost a half a billion dollars in annual personal income," Darnall said. "Just ongoing construction activity will create somewhere in the neighborhood of 1,300 to 1,700 construction jobs a year, year after year after year, as long as we're successful." |
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Puerto Vallarta Real Estate | April 2007 
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