OmniTRAX and Majestic Realty Form Partnership to Develop Class A Warehouses at GEOTRAC Industrial Hub, Port of Brownsville
BROWNSVILLE, TX – OmniTRAX, Inc., one of the largest, privately-held transportation service companies in North America and an affiliate of The Broe Group, today announced an agreement with Majestic Realty Co., the nation’s largest, privately-held industrial developer and owner of master-planned business parks, to build Class-A warehouses at the 200-acre GEOTRAC Industrial Hub in the Port of Brownsville, Texas.
The new relationship and anticipated development of up to 2.8-million square feet over 15 years is expected to attract diverse companies, particularly wholesale distributors, to the region, driving job creation and helping grow the economy in the Rio Grande Valley.
GEOTRAC Industrial Hub is a strategic relationship between the Port of Brownsville and OmniTRAX that is developing thousands of acres for a world-class commercial center. The land, with infrastructure that connects the port to the rest of the United States via the Brownsville & Rio Grande International Railway, is well-suited for light and heavy manufacturing, logistics, energy services and export/import warehousing.
“The area around Brownsville is going through a commercial resurgence due to its proximity to Mexico, access to the Gulf and first class infrastructure. OmniTRAX and Majestic Realty, with the support of the Port of Brownsville, are set to provide companies with the capabilities needed to successfully service their clients in south Texas and around the world,” said Tony Manos, Senior Vice President of Industrial Development for OmniTRAX.
“Majestic Realty is bullish on South Texas and we’re excited about the opportunity to develop Brownsville’s first Class-A warehouse park in collaboration with OmniTRAX and the Port of Brownsville,” said Majestic Realty Co. Senior Vice President and Director of Acquisitions & Development, Brett Tremaine. “In addition to overweight truck access to and from Mexico, these warehouses will also provide companies with the benefit of deep water access and direct connections to multiple Class- I rail carriers, creating a unique ability to ship products almost anywhere at affordable rates.”
“This venture with Majestic Realty is a great example of the type of relationship we envisioned when we entered into the public private partnership with OmniTRAX. We look forward to collaborating with our partners to achieve growth and success for the Port and the community” said Eduardo A. Campirano, Port Director/CEO.
About OmniTRAX, Inc.
As one of North America’s largest private railroad and transportation management companies, OmniTRAX’s core capabilities range from providing management services to railroad and port services and to intermodal and industrial switching operations. Through its affiliation with The Broe Group and its portfolio of managed companies, OmniTRAX also has the unique capability of offering specialized industrial development and real estate solutions, both on and off the rail network managed by OmniTRAX. More information is available at www.omnitrax.com.
About The Broe Group
The Broe Group, based in Denver, Colorado, is a diversified privately-owned enterprise with a multi-billion dollar asset base. The Broe Group and its affiliates employ more than 1,000 people directly and provide employment for countless others through its Great Western Industrial Park in Northern Colorado. The Broe Group and its affiliates own and/or manage commercial real estate and other businesses across North America. Its transportation affiliate, OmniTRAX, Inc., is a leading transportation services firm with railroad, port and terminal operations, and is the 2nd largest operator of short-line railroads in the U.S. Its energy affiliate, Great Western Oil & Gas Company, is a top 10 driller in Colorado and among the top 100 drillers in the U.S. The Broe Group has multiple other investment affiliates, including Three Leaf Ventures, which is focused on innovative healthcare technology start-ups. For more information, see www.broe.com.
About the Port of Brownsville
The Port of Brownsville, the only deep-water port located on the U.S. and Mexico border, provides a full range of services to ensure efficient and timely cargo delivery worldwide. With abundant land for development and seventeen miles of waterfront access, the Port of Brownsville offers easy access to non-congested international bridge crossings and rail connections to your ultimate destination. The Port of Brownsville is governed by the Brownsville Navigation District, a political subdivision of the State of Texas.
About Majestic Realty
Founded in 1948, Majestic Realty Co. is the largest, privately-held developer and owner of master-planned business parks in the United States with a 78 million-square-foot portfolio. The company and its subsidiaries provide solutions to real estate needs from land acquisition and development through design and construction, finance and property management. Client businesses range from small local businesses to many of the Fortune 500 companies. Headquartered in Southern California, Majestic has regional offices in Atlanta, Dallas, Denver, Fort Worth and Laredo, Texas, Las Vegas and Bethlehem, Penn. For more information, see www.majesticrealty.com.