BROWNSVILLE, Texas - Jones Lang LaSalle (JLL), a Chicago-based real estate company, has announced it is marketing a 302-acre portion of land alongside the Port of Brownsville.
The land is located on Highway 48 and has been owned by the Vista del Mar Irrigation Company since 1928, according to the JLL company.
JLL is marketing the land, on a local and international level. JLL’s Executive Vice President, Mark Nicholas, said the land was placed on the market in April.
“The Port of Brownsville owns 40,000 acres, so they are believed to be the largest port-owner of land in the country,” Nicholas said.
“With that said, our owner owns 302 acres directly across the street from the Port Brownsville, and then they own everything else, and the Port does not sell anything. They only like to do ground leases, but we are marketing ours for sale, so it is a really rare, unique opportunity for someone to come in, own and build on their own property versus having to do ground leases with the Port of Brownsville.”
Nicholas said the 302-acres could possibly bring an increase of economic growth for the Rio Grande Valley.
“The number of jobs that can be created is just tremendous,” Nicholas said. “We are speaking with one company here in Houston now, they told us this morning, we created 1,000 jobs.”
Nicholas said JLL is in the process of talking with industrial real estate developers and looking through different offers they have received.
“There is over 7,000 feet of frontage on Highway 48 so with so many companies across the port and Brownsville, you could easily see some restaurants, some sea stores, et cetera…” Nicholas said. “It is just a fantastic development play from a user standpoint and an investor, developer standpoint.”
Editor's Note: This story has changed. The original story said Jones Lang LaSalle was a Houston-based company. They are actually headquartered in Chicago.
