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December 11, 2019
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TEXAS/SOUTHWEST NEWS
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Net-Leased, Single-Tenant Industrial Facility in Texas Fetches $154/sf

5/08/19

A 27.2k sf, industrial building in Brookshire, TX sold for $4.2 mil, or $154/sf. The single-tenant property, located at 502 FM Highway 359 Road South, is fully occupied by H&E Equipment Services on a net lease with more than 10 years of lease term remaining.

The property was sold by a foreign institutional group, represented by Stan Johnson Company’s Zach Harris. The buyer, a SoCal-based 1031 exchange investor, was repped by Mike Erwin of Colliers International.

“Equipment rental and services deals are increasing in abundance and popularity as that industry sector continues to exhibit substantial year-over-year growth,” said Harris. “We have traded several of these equipment services assets for clients over the past few years, achieving attractive pricing as a result of the increasing investor demand.”

“Investor demand for sub-$5 million net lease industrial deals in today’s marketplace remains very strong, especially among the 1031 exchange buyer segment. This particular asset generated multiple offers and ultimately traded above the list price,” added Harris.





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