What's Happening?
David Ebrahimzadeh, Founder and President of Corniche Capital, has announced the development of up to 400,000 square feet of build-to-suit industrial space at Los Morros Business Park in Los Lunas, New Mexico. This project is designed to cater to a variety of industrial needs, including manufacturing, distribution, cold storage, data centers, and defense. The site is strategically located adjacent to Meta's data center campus and offers significant state and local economic incentives such as tax abatements and job training programs. The development is positioned to leverage New Mexico's favorable business environment, including its competitive electricity rates and strategic geographic location, which provides access to major domestic and international
markets.
Why It's Important?
The announcement of this industrial space development is significant as it highlights the growing industrial ecosystem in New Mexico, particularly in the Los Lunas area. The project is expected to attract high-value industrial users due to its customizable facilities and the economic incentives offered by the state. This development could lead to increased job creation and economic growth in the region, further establishing New Mexico as a competitive location for industrial operations. The proximity to major companies like Meta, Walmart, and Amazon underscores the strategic importance of the location, potentially drawing more businesses to the area and enhancing the local economy.
What's Next?
As the development progresses, Corniche Capital will likely engage with potential tenants to customize facilities to their specific operational needs. The availability of economic incentives will be a key factor in attracting businesses to the site. The project is expected to contribute to the ongoing expansion of the industrial corridor in Los Lunas, with potential ripple effects on local infrastructure, housing, and services. Stakeholders, including local government and business leaders, will be closely monitoring the project's impact on regional economic development.
