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6/28/21
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Here’s an update on three Houston industrial sales totaling 198.7k sf between different buyers and sellers that occurred within a 10-day period. The properties traded were: 15800 Export Plaza, located within World Houston Business Park; a Class A manufacturing building at 11940 Brittmoore Park Dr; and a tilt wall office/warehouse facility at 7211 Gessner.
Nick Peterson and John Ferruzzo with Transwestern Real Estate Services represented the sellers in all three transactions. The transactions included:
• 15800 Export Plaza is a four-building complex totaling 89k sf of space in a prime location near to Bush Intercontinental Airport. The property sits on 9.69 acres of land and includes multiple overhead cranes, sprinkler systems, a large outside storage yard and dock high and grade level loading. This was a sale-leaseback transaction.
• 11940 Brittmoore Park Drive is home to a Class A, 59.3k sf manufacturing facility with 9.4k sf of office space and is located in the highly sought-after Brittmoore-Tanner Business Park. The building is sprinklered, has one truck well and eight 5-ton cranes.
• 7211 Gessner is a 50.3k sf building that sits on 7.25 acres of land with excellent access to Beltway 8 and Highway 290. The building is fully air-conditioned, has dock and grade level loading and additionally comes with 3.25 acres of land.
“All three properties generated strong demand from both users and investors alike,” said Peterson. “We continue to see unwavering sales interest on freestanding buildings and dock-high distribution facilities of all sizes.”
“The industrial sales market was barely affected despite the pandemic,” added Ferruzzo. “Buyers are taking advantage of low interest rates and we expect the sales market to stay strong throughout 2021.”
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