Club Deals 21 and 35
Santa Teresa, New Mexico, USA

Club Deals 21 and 35 consist of four industrial buildings, totaling 545,000 square feet, and land holdings, acquired in 1998 and 1999 in Santa Teresa, New Mexico, for approximately $17 million. Two of the buildings, as well as all of the land, have been successfully sold in the last three years. Santa Teresa, NM is in the greater El Paso, TX metropolitan area, and is a border city. Economic activity is strong due to trade with Mexico. This is a rapidly growing market both for commercial and residential real estate. The population of the El Paso metropolitan area is approximately 900,000. The population of Juarez, Mexico is approximately 2 million, with extensive cross-border activity effectively creating a metropolitan area of 2,900,000 people. Juarez has become a major manufacturing center in Mexico, particularly since the NAFTA legislation was passed.