July 22, 2019
Gleco Plating Inc. acquired a 54,000-square-foot industrial warehouse at 3800 W. Ursula Ave. in McAllen, TX. The property, bought from Goldman Family Management Trust, represents a relocation and expansion for the company. The North Texas-headquartered company’s current local office is at 7021 S. Bentsen Rd. in McAllen.
Carlos Telles with CBRE in McAllen represented Gleco Plating. Daniel Galvan with Coldwell Banker represented the seller, Goldman Family Management Trust. Jonathan Barker and Malcolm Coleman with CBRE’s Valuation & Advisory Services provided the appraisal for the property. Financing was provided by Inwood National Bank.
Gleco plans to occupy 34,000 square feet of the new building; Telles has been tapped to lease the remainder. “The McAllen industrial market is very tight right now with very little availability, both to lease or to buy,” Telles said. “This facility will allow them the space they currently require, with ample room for future expansion if needed.”
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