NAI Partners Arranges 64 KSF Houston Industrial Sale
- May 08, 2018
NAI Partners has arranged the sale of two industrial assets in Houston, totaling 63,750 square feet.
NAI Partners Senior Vice President Nick Peterson, Partner & Industrial Division Leader John Ferruzzo and Vice President Ryan Searle represented the seller, Vallourec Tube Alloy LLC, while Clark Gaines Properties Principal Justin Clark and Partner Nathan Gaines represented the buyer, H&B Development and Construction LP, in the sale of 14333 Sommermeyer, a 54,750-square-foot industrial warehouse.
Travis Land, partner with NAI, represented TLCC Investments, while Boyd Commercial Broker Robert Alinger represented the seller in the transaction of 14790 Park Almeda, a 9,000-square-foot industrial office and warehouse. According to the firm, the property is in the South Belt Industrial Park and is available for lease.
In another recent deal, the company arranged three subleases totaling more than 11,000 square feet on behalf of AccessData at The Willowbrook Building located at 7915 FM-1960 W. in Houston.
“The glut of sublease space has been the underlying story in the Houston office market since the oil downturn began to manifest in late 2014,” said Nick Terry, senior associate at NAI Partners, in prepared remarks. “Moreover, these transactions are reflective of the recent 140 basis point decline to 14 percent, which measures the amount of sublease space as a percentage of total available space in Houston.”
Images courtesy of NAI Partners