BROADCASTS.com

b'

MISSION, Texas \\u2013 The CEO of Mission Economic Development Corporation has taken to LinkedInto sound the alarm bell about a lack of available industrial warehouse space in the Rio Grande Valley.

\\u201cWe need more industrial and logistics warehousing in Hidalgo County but it\\u2019s not getting built,\\u201d said Teclo Garcia.

In an interview with the Rio Grande Guardian International News Service, Garcia said he was prompted to speak out after reading a CBRE report that said the vacancy rate for industrial warehouses in the upper Valley is only 1.3 percent.\\xa0

Garcia said that is \\u201cunbelievably low.\\u201d

Soon after posting his message, Garcia said he received an inquiry from a developer who wanted to know if he had 500,000 to 700,000 square feet of warehousing available. He said he had to, unfortunately, say, \\u201cno.\\u201d

Here is what Garcia (pictured above) posted on LinkedIn:

\\u201cWe need more industrial and logistics warehousing in Hidalgo County but it\\u2019s not getting built.

\\u201cThe McAllen Industrial Market (McAllen, Pharr, Mission, Edinburg), in 2023 Q1 posted the lowest industrial vacancy rates in at least a dozen years and new record high price per square foot, according to real estate giant CBRE.

Editor's Note: Click here to read the full story in the Rio Grande Guardian International News Service.

To read the new stories and watch the news videos of the Rio Grande Guardian International News Service go to www.riograndeguardian.com.