HOUSTON – Earhart Chenault LLC has acquired a 245,319-square-foot manufacturing facility in the Brookhollow West Business Park in northwest Houston.
The property, located at 9700 W. Gulf Bank, sits just north of the intersection of Highway 290 and the West Sam Houston Tollway, providing strong regional access for industrial users.
Transwestern Commercial Services brokers Nick Peterson and John Ferruzzo represented the seller, NIP Owner I LLC, in the transaction.
Representing the buyer, Earhart Chenault LLC, were Stephen Kuper and Preston Yaggi of Lee & Associates.
According to Transwestern Commercial Services, this building ranks among the largest manufacturing facilities sold in the Houston market over the past year.
“This was a rare opportunity for the buyer to acquire a large, fully air-conditioned manufacturing property in the heart of Northwest Houston,” said Peterson. “The sale also included an additional 8.6 acres to allow for future expansion.”
Market context from Transwestern’s Fourth-Quarter Industrial Report shows manufacturing vacancy remains the lowest among industrial property types. Direct vacancy for manufacturing finished the year at 2.3 percent, matching overall vacancy at 2.3 percent and down slightly from the previous quarter. By comparison, direct vacancy for warehouse/distribution space increased to 6.7 percent from 6.2 percent in the third quarter, while overall vacancy for that sector rose to 7 percent from 6.7 percent.
Jan. 27, 2020 Realty News Report — Copyright 2020
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