El Paso’s Hunt Companies, the national real estate development group that’s created large residential communities in this area, is expanding into industrial park development.
The industrial park is being built on 108 acres in an industrial area bordered by new housing developments along a traffic-congested portion of Pellicano Drive in a booming area of far East El Paso County.
The park’s four to five buildings will have more than 1.8 million square feet of space. More than half of one of the first buildings to be constructed has already been leased.
This is Hunt’s first foray into industrial development, but “the industrial sector will continue to be an essential part of our portfolio and long-term growth strategy,” a Hunt spokesperson said in a statement. Hunt is headed by well-known El Paso businessman Woody Hunt.
Hunt, Panattoni team up for Pellicano park
Hunt is a partner in a joint venture with Panattoni Development Co., an international commercial real estate developer based in the Los Angeles area, that recently began construction of the multimillion-dollar Pellicano Industrial Park. PCCP, a Los Angeles real estate financing firm, also is a limited partner in the venture.