Scannell Properties breaks ground on Phase 2 construction at Laredo Logistics Crossing in Laredo, TX
Scannell Properties, an international commercial real estate developer, has broken ground on Phase 2 of its Laredo Logistics Crossing in Laredo, TX. Phase 2 includes two speculative industrial buildings suited for warehouse or fulfillment center operations. Scannell Properties entered a Joint Venture with Invesco Real Estate, the USD $85 billion global real estate investment business of Invesco Ltd. (NYSE: IVZ), for Phase 2 of the development.
Buildings now under development include one at 259,067 SF, with 70 trailer parking spots and 266 auto parking spots, and another at 327,600 SF, with 173 trailer parking spots and 242 auto parking spots.
“Scannell has been excited about the Laredo market for a long time, and we are pleased to begin our next phase of development. Laredo has experienced tremendous growth with the expansion of nearshoring and has become the largest inland port in the United States with around 18,500 trucks passing through each day. The city’s location provides efficient access to major interstates and transportation routes across the country, and our buildings will provide incredible access to northbound and southbound routes on I-35,” said Dash Krause, Development Manager, Scannell Properties.
Phase 1 of Laredo Logistics Crossing included a 401,100 SF build-to-suit facility for Haier. It was completed in May 2023 and sold to Invesco Real Estate in May 2024.
For more information on the project please contact Ian MacDonald, Director of Development, ianm@scannellproperties.com, 317-448-8836; or Dash Krause, Development Manager, dash.krause@scannellproperties.com, 214-695-1116.