PHARR, Texas - Nick Dyer, a principal with Ocotillo Capital Partners, says the Rio Grande Valley and the Pharr-Reynosa International Bridge play a really important part in the supply chain for the United States.
Ocotillo Capital Partners is a real estate investment firm focused on housing and logistics in Texas. It is developing Capote International Business Park in south Pharr.
Dyer said: “The Rio Grande Valley and the Pharr Bridge play a really important part in the supply chain for the United States and we feel very fortunate to play a small role in that and supporting that. And, as everybody knows that has only become more of a factor over the last several years. And so we were thrilled to be a part of that here in the City of Pharr.”
Dyer made his comments at a groundbreaking ceremony for the eighth building being constructed at Capote. Once it is complete there will be 1.1 million square feet of industrial buildings here in the park.
In his remarks, Dyer spoke about the history of the park and provided size specifications, in case anyone needs industrial space.
Here are Dyer’s remarks in full:
My name is Nick Dyer. Like I said, I'm with Ocotillo Capital Partners and we're the developer of this building.
First of all, thank you to everybody for coming out this morning. It's a little wet. It's hard to totally hate the rain because all the farmers down here need it and so if you know the farmers need some rain, just tell us to schedule a groundbreaking and we'll deliver the rain.
Thank you to the City of Pharr. Victor, Janie, Karina, Dr. Flores. Thank you for being here and for putting this event on for us and everybody at the City of Pharr and the EDC.
This is an important milestone. As you can see, we're going vertical on this project here and putting two walls up later this week and we're going vertical on the steel. So, an important milestone. And we appreciate having a great partner with the City of Pharr. It has always been a great place for us to develop and we really appreciate the opportunity to continue to continue to develop down here.
A little bit of history on this project.
My family goes back five generations in this part of the Valley. These two buildings and the other buildings in the Capote International Business Park were built on farmland that my grandfather, Newt Dyer acquired back in the 1960s. When the bridge came in in the 1990s, Newt had an idea of building some commercial buildings next to the bridge. And then Phil and Newt together sort of developed that idea into a vision for what's become the Capote International Business Park.
They built six buildings from about 2007 to 2017. All those Class A, best in class buildings. And now under Ocotillo Capital Partners, Josh and I and in concert with Phil, we’ve continued to kind of grab the baton and continue that development with this building here, that was completed earlier this year. And then building H, which should be completed kind of middle of this year.
This is going to be the eighth building in the park and that'll put us at about 1.1 million square feet of industrial buildings here in Capote Park.
From inception of this park the strategy has always been to build best in class buildings, not only for the Rio Grande Valley but really best in class buildings anywhere.
We're putting buildings here to promote and support cross border trade with maquilas in Reynosa and further into Mexico, and these are buildings that we would consider best in class really in any market in the country. These are the type of buildings you see getting developed in Houston, Austin, Dallas, San Antonio, those type of markets. So this new building is no exception to that.
Some quick specs on it, like Victor mentioned, it's 160,000 square feet. It can support up to four different tenants so we could we could take on large tenants, we could take on smaller medium sized tenants as well. The clear height of the building is 36 feet, that's about as high as you'll see here in the Valley. Again, that's a spec that you will find in some of the major markets for industrial distribution.
It's a rear loading building. It's got 50 dock doors and 60 trailer staging spots and it's got a 280 feet deep truck court.
It's not easy to make these buildings happen and make all the pieces align and everybody's aware of the economic conditions right now. So it takes a really good team and we're fortunate to have a great team that we work with to make all this possible. So a special thank you to Warren Group Architects, to Halff Associates, to (Texas) Icon Construction, to Frost Bank and to South Texas Commercial Real estate. Those are only a few of the people that we work with to make this possible and we really, really value being a part of that team and having all of you guys as part of our team.
Thank you everybody for coming out. Really appreciate it. The Rio Grande Valley and the Pharr Bridge play a really important part in the supply chain for the United States and we feel very fortunate to play a small role in that and supporting that. And as everybody knows that's only become more of a factor over the last several years. And so we were thrilled to be a part of that here in the City of Pharr.
This building is solely for lease. It is going to be completed in the middle of this year, probably around June. And we are planning on more in the future. But this one is… we're open for business. If you anybody looking for space near the Pharr Bridge, please send us our way. We’re not hard to reach. And we'd love to talk to them. Again, thank you so much for coming. Appreciate it.
Editor’s Note: When Phil Dyer was giving a shoutout to various members of Pharr EDC he was referring to Victor Perez, Janie Cavazos, and Karina Lopez. The ‘Dr. Flores” Dyer referenced was Pharr City Manager Jonathan B. Flores.
