View the NAI Rio Grande Valley's Spotlight to stay current on any and everything relating to commercial real estate in the Rio Grande Valley.
Click here to view the May 3 NAI Rio Grande Vally Spotlight
Monday, May 3, 2010
NAI RGV Launches New Web Site!
Hats off to the new NAI Rio Grande Valley Web Site! Check out NAI RGV's new look at http://www.nairgv.com/
NAI Rio Grande Valley advises it's customers and clients on how to maximize the value of their assets and utilize real estate to their long term advantage through comprehensive and strategic planning, execution and management.
NAI Rio Grande Valley professionals arrange the sale or lease of land, office, industrial and commercial real estate. We have a proven track record and have considerable expertise in envisioning how to convert raw land into revenues.
NAI Rio Grande Valley is also a service bureau for data gathering, research assistance, interpretation, and expert analysis on a variety of regional, economic and demographic issues. It seeks to provide an array of other services including market research, feasibility studies, project management, and real estate entitlements.
Because of our proximity to the Mexico border, close ties to the business community in Mexico and a proven understanding of the unique economics of the U.S. - Mexico border area, NAI Rio Grande Valley is able to provide services to both international and domestic clientele.
Friday, April 30, 2010
BASS PRO SHOPS TO OPEN SUPERSTORE IN HARLINGEN, TEXAS
News Release
BASS PRO SHOPS ANNOUNCES PLANS TO OPEN A DESTINATION OUTDOOR SUPERSTORE IN HARLINGEN, TEXAS
Harlingen, TX—April 30, 2010--Bass Pro Shops, America’s most popular outdoor store, continues its retail growth with the announcement they will open their 57th destination outdoor superstore in Harlingen, Texas. The store will be from 130,000 to 150,000 square feet and will be the signature anchor for the Cameron Crossing retail development to be located at intersection of U.S. Expressways 83 and 77. The store is tentatively scheduled to open late second quarter or early third quarter 2011.
“There is no other retailer in America like Bass Pro Shops,” stated Harlingen Mayor Chris Boswell. “Their one-of-a-kind destination retail stores attract an average of 3 million people a year to each store. Typically, when Bass Pro Shops comes to a city they attract more businesses which create more jobs, more taxes and a better community. We are thrilled they chose to be a part of our great city.”
The decision by Bass Pro Shops was the result of over two years of efforts by the Harlingen City Commission, the Harlingen Economic Development Corporation and the developers of Cameron Crossing. “Harlingen is the perfect location from which to serve South Texas and northern Mexico,” according to Armando Elizarde, president of the Harlingen EDC. “Cameron Crossing, with Bass Pro Shops as the anchor, will transform Harlingen,” Elizarde concluded.
Bass Pro Shops stores are a combination of museum, art gallery, aquarium, outdoor education, conservation and entertainment. Each store is uniquely themed to the region in which they are located so that no two stores are alike.
“We are excited about locating one of our Outdoor World destination stores in the Rio Grande Valley to better serve our many customers in the region,” said Bass Pro Shops founder Johnny Morris. “Harlingen is a terrific regional location for a store that will highlight the great heritage and outdoor traditions of the families and visitors to the area.”
The Harlingen store will offer outdoor enthusiasts 3 ½ football fields of shopping excitement with the area’s largest selection of equipment and clothing for hunting, fishing, hiking, backpacking, wildlife viewing, camping, outdoor cooking and more. A gift and nature center will also serve up a wide variety of outdoor-related items from lamps and dishes to bird feeders and furniture.
An expansive boat showroom will feature Tracker, Nitro, Mako and SunTracker boats built by Tracker Marine Group—the world’s largest manufacturer of fishing boats. A boat service center will also be available.
Unique exterior and interior motifs have branded Bass Pro Shops as visually appealing, high quality outdoor stores. The outdoors is brought indoors with massive log and rock work, large aquariums and water features stocked with native fish species, along with an extensive collection of museum quality fish and wildlife exhibits. Historic photos, artifacts, and memorabilia will pay tribute to the Rio Grande Valley’s great outdoors heritage.
Award-winning in their concept and design, Bass Pro Shops retail stores are rated as top tourist destinations. Well over 100 million people visit their stores annually. Widely recognized for their efforts in conservation and outdoor education, Bass Pro Shops stores also offer Outdoor Skills Workshops for adults, kids and families.
Bass Pro Shops, known for hiring associates that have a passion for the outdoors, is expected to employ approximately 300 people, many of whom will come from the local region. Employment information is available in the career opportunities section of www.basspro.com
About Bass Pro Shops Group:
Bass Pro Shops Group-56 retail stores in 26 states and Canada visited by over 100 million people annually, international catalog and internet retailing, American Rod & Gun wholesale division selling to over 7,000 independently owned retail stores worldwide, Outdoor World Incentives also selling Bass Pro Shops gift cards through over 132,000 retail outlets across America and a restaurant division with 26 locations.
For more information regarding Bass Pro Shops store locations, products or special events, please visit http://www.basspro.com/. To request a free catalog call 1-800-BASS PRO.
Tracker Marine Group – Manufactures and sells Tracker, Nitro, SunTracker, Tahoe, Grizzly, and Mako boats through Bass Pro Shops retail stores and over 400 dealers worldwide. For more information go to www.trackermarine.com.
Resort Group – Big Cedar Lodge and other resort properties including restaurants and golf course. For more information go to www.big-cedar.com, www.bigcedarwildernessclub.com, or www.dogwoodcanyon.com
Contact: Larry Whiteley (417) 873-5022 lwhiteley@basspro.com
Katie Mitchell (417) 873-5618 kamitchell@basspro.com
Jenna Kendall (417) 873-5059 jmkendall@basspro.com
Bill Martin (956) 245-1303 bmartin@harlingenedc.com
--end--
BASS PRO SHOPS ANNOUNCES PLANS TO OPEN A DESTINATION OUTDOOR SUPERSTORE IN HARLINGEN, TEXAS
Harlingen, TX—April 30, 2010--Bass Pro Shops, America’s most popular outdoor store, continues its retail growth with the announcement they will open their 57th destination outdoor superstore in Harlingen, Texas. The store will be from 130,000 to 150,000 square feet and will be the signature anchor for the Cameron Crossing retail development to be located at intersection of U.S. Expressways 83 and 77. The store is tentatively scheduled to open late second quarter or early third quarter 2011.
“There is no other retailer in America like Bass Pro Shops,” stated Harlingen Mayor Chris Boswell. “Their one-of-a-kind destination retail stores attract an average of 3 million people a year to each store. Typically, when Bass Pro Shops comes to a city they attract more businesses which create more jobs, more taxes and a better community. We are thrilled they chose to be a part of our great city.”
The decision by Bass Pro Shops was the result of over two years of efforts by the Harlingen City Commission, the Harlingen Economic Development Corporation and the developers of Cameron Crossing. “Harlingen is the perfect location from which to serve South Texas and northern Mexico,” according to Armando Elizarde, president of the Harlingen EDC. “Cameron Crossing, with Bass Pro Shops as the anchor, will transform Harlingen,” Elizarde concluded.
Bass Pro Shops stores are a combination of museum, art gallery, aquarium, outdoor education, conservation and entertainment. Each store is uniquely themed to the region in which they are located so that no two stores are alike.
“We are excited about locating one of our Outdoor World destination stores in the Rio Grande Valley to better serve our many customers in the region,” said Bass Pro Shops founder Johnny Morris. “Harlingen is a terrific regional location for a store that will highlight the great heritage and outdoor traditions of the families and visitors to the area.”
The Harlingen store will offer outdoor enthusiasts 3 ½ football fields of shopping excitement with the area’s largest selection of equipment and clothing for hunting, fishing, hiking, backpacking, wildlife viewing, camping, outdoor cooking and more. A gift and nature center will also serve up a wide variety of outdoor-related items from lamps and dishes to bird feeders and furniture.
An expansive boat showroom will feature Tracker, Nitro, Mako and SunTracker boats built by Tracker Marine Group—the world’s largest manufacturer of fishing boats. A boat service center will also be available.
Unique exterior and interior motifs have branded Bass Pro Shops as visually appealing, high quality outdoor stores. The outdoors is brought indoors with massive log and rock work, large aquariums and water features stocked with native fish species, along with an extensive collection of museum quality fish and wildlife exhibits. Historic photos, artifacts, and memorabilia will pay tribute to the Rio Grande Valley’s great outdoors heritage.
Award-winning in their concept and design, Bass Pro Shops retail stores are rated as top tourist destinations. Well over 100 million people visit their stores annually. Widely recognized for their efforts in conservation and outdoor education, Bass Pro Shops stores also offer Outdoor Skills Workshops for adults, kids and families.
Bass Pro Shops, known for hiring associates that have a passion for the outdoors, is expected to employ approximately 300 people, many of whom will come from the local region. Employment information is available in the career opportunities section of www.basspro.com
About Bass Pro Shops Group:
Bass Pro Shops Group-56 retail stores in 26 states and Canada visited by over 100 million people annually, international catalog and internet retailing, American Rod & Gun wholesale division selling to over 7,000 independently owned retail stores worldwide, Outdoor World Incentives also selling Bass Pro Shops gift cards through over 132,000 retail outlets across America and a restaurant division with 26 locations.
For more information regarding Bass Pro Shops store locations, products or special events, please visit http://www.basspro.com/. To request a free catalog call 1-800-BASS PRO.
Tracker Marine Group – Manufactures and sells Tracker, Nitro, SunTracker, Tahoe, Grizzly, and Mako boats through Bass Pro Shops retail stores and over 400 dealers worldwide. For more information go to www.trackermarine.com.
Resort Group – Big Cedar Lodge and other resort properties including restaurants and golf course. For more information go to www.big-cedar.com, www.bigcedarwildernessclub.com, or www.dogwoodcanyon.com
Contact: Larry Whiteley (417) 873-5022 lwhiteley@basspro.com
Katie Mitchell (417) 873-5618 kamitchell@basspro.com
Jenna Kendall (417) 873-5059 jmkendall@basspro.com
Bill Martin (956) 245-1303 bmartin@harlingenedc.com
--end--
Tuesday, April 27, 2010
Ridge Property Trust Leases Over 200,000 Square Feet Of Space To Tenants At Facilities In The Mcallen/Reynosa Area
Ridge Property Trust Leases Over 200,000 Square Feet Of Space To Tenants At Facilities In The Mcallen/Reynosa Area
McAllen, Texas, Apr 27, 2010 (PRWeb.com via COMTEX) --
Ridge Property Trust, a private REIT specializing in industrial property development and management, today announced leasings totaling 218,812 square feet, including recently signed Andrew Corporation and Karlee Company at the company's properties at Sharyland Business Park in McAllen, TX.
This comes on the heels of significant leasing activity in 2009 of 78,500 square feet to ProTrans International and ProTrans Reynosa at Ridge facilities in McAllen, TX and Reynosa, MX.
The Sharyland Business Park, located near the Miller International Airport, serves companies as a logistics hub that allows efficient transportation to and from Mexico, as well as quick access to both Highway 281 and U.S. Route 83. The industrial development is also near the newly opened Anzalduas International Bridge which provides an essential link to and from Reynosa, MX, and further south to Monterrey, MX.
"Ridge Property Trust combines state-of-the-art amenities with ...
Click here to read more
McAllen, Texas, Apr 27, 2010 (PRWeb.com via COMTEX) --
Ridge Property Trust, a private REIT specializing in industrial property development and management, today announced leasings totaling 218,812 square feet, including recently signed Andrew Corporation and Karlee Company at the company's properties at Sharyland Business Park in McAllen, TX.
This comes on the heels of significant leasing activity in 2009 of 78,500 square feet to ProTrans International and ProTrans Reynosa at Ridge facilities in McAllen, TX and Reynosa, MX.
The Sharyland Business Park, located near the Miller International Airport, serves companies as a logistics hub that allows efficient transportation to and from Mexico, as well as quick access to both Highway 281 and U.S. Route 83. The industrial development is also near the newly opened Anzalduas International Bridge which provides an essential link to and from Reynosa, MX, and further south to Monterrey, MX.
"Ridge Property Trust combines state-of-the-art amenities with ...
Click here to read more
Thursday, April 22, 2010
6th Annual State of Real Estate Forum Draws Large Attendance
6th Annual State of Real Estate Forum Draws Large Attendance
Tuesday, April 20th, 2010
Edwards Abstract and Title Co. has taken the lead in providing the latest economic data affecting the Valley’s economy. The 6th Annual State of Real Estate was held on Friday, January 22 where almost 230 real estate professionals were in attendance.
The Forum was headlined by national economist Dr. Ted C. Jones, PhD, Senior Vice President and Chief Economist for Stewart Title Guaranty Company. During his presentation, Dr. Jones informed the group that the McAllen-Mission-Edinburg MSA was one of only 15 out of 366 metropolitan statistical areas that had job growth from November 2008 to November 2009. The McAllen-Mission-Edinburg MSA ranked 6th best in the country out of 366 MSAs across the nation.
Dr. Jones also reported that the according to Campbell Surveys, a division of Campbell Communications, during the first seven months of 2009 an estimated 610,000 homes were sold due to the $8,000 First-Time Homebuyer Tax Credit.
Congressman Ruben Hinojosa was invited ...
Click here to read more
Tuesday, April 20th, 2010Edwards Abstract and Title Co. has taken the lead in providing the latest economic data affecting the Valley’s economy. The 6th Annual State of Real Estate was held on Friday, January 22 where almost 230 real estate professionals were in attendance.
The Forum was headlined by national economist Dr. Ted C. Jones, PhD, Senior Vice President and Chief Economist for Stewart Title Guaranty Company. During his presentation, Dr. Jones informed the group that the McAllen-Mission-Edinburg MSA was one of only 15 out of 366 metropolitan statistical areas that had job growth from November 2008 to November 2009. The McAllen-Mission-Edinburg MSA ranked 6th best in the country out of 366 MSAs across the nation.
Dr. Jones also reported that the according to Campbell Surveys, a division of Campbell Communications, during the first seven months of 2009 an estimated 610,000 homes were sold due to the $8,000 First-Time Homebuyer Tax Credit.
Congressman Ruben Hinojosa was invited ...
Click here to read more
Mike Blum with NAI RGV Comments on the New 5 Story Hotel Being Built in McAllen
New 5 Story Hotel Being Built in McAllenA new 5 story hotel is being built by local businessmen; its location is possibly one of the most strategic locations in McAllen, easy to get in and easy to get out, close to everything that is important for any traveler. The new Hampton Inn & Suites hotel is being built on the corner of Col. Rowe (2nd Street) and Expressway 83, just a few steps east of the overpass.
The owners are Castle Hospitality locally owned by Larry Fallek, Michael Fallek, Bob Wallace, and Rick Guerra. They also own and operate the Courtyard by Marriott, Fairfield Inn & Suites, SpringHill Suites, Romano's Macaroni Grill, and Tony Roma's in McAllen. In Laredo, they own and operate Embassy Suites, Fairfield Inn and Tony Roma's.
Mike Blum, NAI-RGV managing partner was the one who put together this deal and worked on it for about a year before it became a reality. “These 3 acres of land are in the center of McAllen, along the Expressway, in the heart of the medical center and between the Pharr exit and the Mission exit plus they are surrounded by high-end development and retail shopping. This is one of the most prime real estate pieces left on the Expressway in McAllen,” Blum stated.
Bill Moschel and Jim Moffit were the previous owners and Blum did a Master plan for them back in 1993. They have owned the property for the last 20 years or more. “I think that the fact that this property is owned, developed, built, banked and sold by local people; when you look at the economic multipliers, the strength of the local economy is felt,” Blum stated. He added that this transaction resulted in multiple transactions and became huge so he does not know the number of multipliers in this single transaction.
Rick Guerra is the Vice President of Operations of Castle Hospitality and the management company that runs the hotels and is also ...
Click here to read more
Bass Pro Shop coming to Harlingen?
Bass Pro Shop coming to Harlingen? Action 4 News received several calls about the possibility of a Bass Pro Shop coming to Harlingen.
Action 4 News contacted Harlingen's Economic Development Corporation CEO Bill Martin and Harlingen Mayor Chris Boswell.
Both told Action 4 News they could not discuss the matter. However, Martin did confirm there was a board meeting Tuesday morning at 7:30 a.m.
But Martin ...
Click here to read more
Monday, April 19, 2010
Texas home to some of the most successful Foreign Trade Zones
Texas home to some of the most successful Foreign Trade Zones
April 19th, 2010
McAllen Economic Development Corporation
The McAllen Foreign Trade Zone, No. 12, continues to recruit companies and lease industrial space looking to save money and take advantage of 24-hour security and tax benefits. Since 1970, the McAllen Foreign Trade Zone (MFTZ) has aimed “To provide continued customer satisfaction and value driven supply chain management services along with a positive and rewarding work environment.”
A recent report was submitted to Congress regarding the nation’s Foreign Trade Zones. The McAllen Foreign Trade Zone was the first inland port to come to fruition.
To view the full congressional report, click here
April 19th, 2010
McAllen Economic Development Corporation
The McAllen Foreign Trade Zone, No. 12, continues to recruit companies and lease industrial space looking to save money and take advantage of 24-hour security and tax benefits. Since 1970, the McAllen Foreign Trade Zone (MFTZ) has aimed “To provide continued customer satisfaction and value driven supply chain management services along with a positive and rewarding work environment.”
A recent report was submitted to Congress regarding the nation’s Foreign Trade Zones. The McAllen Foreign Trade Zone was the first inland port to come to fruition.
To view the full congressional report, click here
Saturday, April 17, 2010
Texas Foreign Trade Zones in the Nation’s Top 10
Texas Foreign Trade Zones in the Nation’s Top 10
Written by Sahnya Shulterbrandt
Wednesday, 14 April 2010 11:53
This 70th annual report contains details of activities during fiscal year 2008 (October 1, 2007 through September 30, 2008), including the dollar value of merchandise moved, a list of the 47 formal orders issued during this time, and the locations, addresses, and contact points of all zones.
Foreign trade zones (FTZs) are secure facilities where foreign merchandise can be warehoused or further manufactured before the payment of customs duties. They are licensed by the Foreign-Trade Zones Board—which is housed within the Commerce Department’s International Trade Administration—and operate under the supervision of Customs and Border Protection. The board is required to publish an annual report on its activities under the Foreign-Trade Zones Act of 1934 (19 USC 81a-81u).
Texas Foreign Trade Zone in the Nation’s Top 10 (By value of foreign goods admitted in millions US$)
1. Fort Worth/Alliance $5,357
2. Harris County $3,775
3. El Paso $1200
4. Midlothian/Ellis County $994.9
5. Brownsville $986.6
Click here to read more
Written by Sahnya Shulterbrandt
Wednesday, 14 April 2010 11:53
This 70th annual report contains details of activities during fiscal year 2008 (October 1, 2007 through September 30, 2008), including the dollar value of merchandise moved, a list of the 47 formal orders issued during this time, and the locations, addresses, and contact points of all zones.
Foreign trade zones (FTZs) are secure facilities where foreign merchandise can be warehoused or further manufactured before the payment of customs duties. They are licensed by the Foreign-Trade Zones Board—which is housed within the Commerce Department’s International Trade Administration—and operate under the supervision of Customs and Border Protection. The board is required to publish an annual report on its activities under the Foreign-Trade Zones Act of 1934 (19 USC 81a-81u).
Texas Foreign Trade Zone in the Nation’s Top 10 (By value of foreign goods admitted in millions US$)
1. Fort Worth/Alliance $5,357
2. Harris County $3,775
3. El Paso $1200
4. Midlothian/Ellis County $994.9
5. Brownsville $986.6
Click here to read more
Look for Growth in Latin America in 2010
Look for Growth in Latin America in 2010
NAI GLOBAL Blog Post
April 16, 2010
As we roll into the 2nd Quarter of 2010 and see positive numbers and prospects for commercial real estate in Latin America, one may wonder how the region was affected, if at all, during 2009. Well, as I predicted in late 2008, during 2009 Latin America, with few exceptions, did not suffer the full brunt of the global recession caused by the problems in the US and Western European financial markets. Given that Latin American developers do not generally rely upon financing and credit services for their real estate development, the region was saved from the worst of the recession - most real estate projects and capital investments are completed with cash and not with credit. (These characteristics have limited growth historically, allowing demand to fairly consistently exceed real estate supply.) This is a major reason why the credit/financing crisis is not negatively impacting the region as much as in the 1st tier economies; we will not see the distressed properties situation that is occurring in the US. More than a decrease in available financing and credit, the ripple effect of decreased global demand affected the consumer markets in Latin America.
The region overall saw its economic growth rate decrease only about 2.6%. However, those markets that did suffer the most were Mexico (due to its interdependence with the US economy), Venezuela (due largely to the poor macro and microeconomic policies of the current administration) and the Caribbean island countries. This latter group felt the effects rather strongly given that their economies are highly dependent upon tourism; there was a steep decline in international travel and hotel/resort development and investment.
For most of Latin America the recession did not hit them the hardest until the first quarter of 2009, however, by the end of the 3rd quarter the major real estate markets of most countries began to show signs of increased demand and greater rental activity. By the end of the 4th quarter, demand and sales activity definitely showed strong increases and signs of a recovery were obvious. This being said, during 2009 in the region’s major markets, office, industrial and retail activity was still relatively healthy as compared to the larger and more institutionalized markets of the US and Europe. Compared to 2008, absorption decreased as much as 20% depending upon the market. Whereas in the US and Europe, ...
Click here to read more
NAI GLOBAL Blog Post
April 16, 2010
As we roll into the 2nd Quarter of 2010 and see positive numbers and prospects for commercial real estate in Latin America, one may wonder how the region was affected, if at all, during 2009. Well, as I predicted in late 2008, during 2009 Latin America, with few exceptions, did not suffer the full brunt of the global recession caused by the problems in the US and Western European financial markets. Given that Latin American developers do not generally rely upon financing and credit services for their real estate development, the region was saved from the worst of the recession - most real estate projects and capital investments are completed with cash and not with credit. (These characteristics have limited growth historically, allowing demand to fairly consistently exceed real estate supply.) This is a major reason why the credit/financing crisis is not negatively impacting the region as much as in the 1st tier economies; we will not see the distressed properties situation that is occurring in the US. More than a decrease in available financing and credit, the ripple effect of decreased global demand affected the consumer markets in Latin America.
The region overall saw its economic growth rate decrease only about 2.6%. However, those markets that did suffer the most were Mexico (due to its interdependence with the US economy), Venezuela (due largely to the poor macro and microeconomic policies of the current administration) and the Caribbean island countries. This latter group felt the effects rather strongly given that their economies are highly dependent upon tourism; there was a steep decline in international travel and hotel/resort development and investment.
For most of Latin America the recession did not hit them the hardest until the first quarter of 2009, however, by the end of the 3rd quarter the major real estate markets of most countries began to show signs of increased demand and greater rental activity. By the end of the 4th quarter, demand and sales activity definitely showed strong increases and signs of a recovery were obvious. This being said, during 2009 in the region’s major markets, office, industrial and retail activity was still relatively healthy as compared to the larger and more institutionalized markets of the US and Europe. Compared to 2008, absorption decreased as much as 20% depending upon the market. Whereas in the US and Europe, ...
Click here to read more
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