HOUSTON – (Realty News Report) – Earhart Chenault LLC acquired a 245,319-SF manufacturing building located in Brookhollow West Business Park in northwest Houston.
The property, 9700 W. Gulf Bank, is located near the intersection of Highway 290 and the West Sam Houston Tollway.
Nick Peterson and John Ferruzzo of Transwestern Commercial Services represented the seller, NIP Owner I LLC, in the transaction.
Stephen Kuper and Preston Yaggi of Lee and Associates represented the buyer, Earhart Chenault LLC.
The building was one of the largest manufacturing buildings sold in Houston in the last year, according to Transwestern Commercial Services.
“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 included an additional 8.6 acres to accommodate future expansion.”
According to Transwestern’s Fourth-Quarter Industrial Report, vacancy for the manufacturing sector remained the lowest of all property types. It ended the year at 2.3 percent for both direct vacancy and overall vacancy, down from 2.4 percent and 2.6 percent over the quarter, respectively. Direct vacancy for warehouse/distribution space increased to 6.7 percent from a rate of 6.2 percent last quarter, while overall vacancy reached 7 percent from 6.7 percent in the third quarter.
Jan. 27, 2020 Realty News Report Copyright 2020
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