Fully Leased Houston Manufacturing Facility Changes Hands
- Sep 21, 2018
Stan Johnson Co. has brokered the sale of a 447,605-square foot industrial property in east Houston. Hines sold the rail-served asset to an undisclosed buyer acting on a 1031 exchange. The manufacturing facility encompasses nine buildings and was fully leased at the time of the sale to AFGlobal Corp., a technology and manufacturing specialist.
Located at 13770 Industrial Road, the asset is part of the 650-acre Greens Port Industrial Park on the Houston Ship Channel. The private, multi-tenanted park benefits greatly from Houston’s constant demand for rail and water access, which is used for heavy dimensional shippers, metal and steel manufacturing, as well as the plastics and petrochemical industries.
“Not many net lease deals in the Port of Houston make it to the open market. A rail-served site with access to the Houston Ship Channel is going to get a lot of attention in today’s investment market”, Todd Moore, director in Stan Johnson Co.’s Houston office said in a prepared statement.
Stan Johnson Co.’s Todd Moore represented the seller in the transaction. The brokerage company also recently facilitated the $11.4 million sale of an 111,667-square-foot flex building in Arlington Heights, Ill.
Image courtesy of Stan Johnson Co.