El Paso, TX – Lee & Associates, one of the largest national commercial real estate firms, has completed the $4,100,000 leasehold interest sale of an approximately 59,425-square-foot distribution building leased to Federal Express Corporation. Ryan Barr and Ryan Bennett of Barr & Bennett Net Leased Investment Group, a team within Lee & Associates-North San Diego County, represented both the Seller, Infinity Nine of El Paso, LLC, and the Buyer, Sealy Company, in the transaction.
Constructed in 2000 as a build-to-suit for the tenant, the building sits on an approximately 5.4-acre parcel and is located at 1701 Hawkins Blvd, in El Paso, Texas. FedEx has occupied 100 percent of the facility for 20+ years and extended their lease in 2018 for an additional ten years. The property is located adjacent to the El Paso International Airport and is located just two miles from Interstate 10 for direct access to downtown El Paso.
“The location doesn’t get any better in regard to the tenant’s use and it’s the reason they have been successfully operating here long-term,” said Ryan Barr.
As the sixth-largest city in Texas, and the 20th largest city in the U.S., El Paso is a top 20% U.S. performing economy.
