HOUSTON – (Realty News Report) – Adkisson Group has purchased a 158,700-SF manufacturing campus located at 6500 Brittmoore Road in Northwest Houston.
The campus consists of eight manufacturing buildings on more than 13 acres of land.
Robert McGee, Thomas Leger and Chase Cribbs of Lee & Associates – Houston represented the Adkisson Group real estate development firm in the transaction.
“We saw this as a great opportunity for our client to own a manufacturing facility that can no longer be replicated,” said Robert McGee, Principal with Lee & Associates – Houston. “This is the type of facility that no one would ever build on a speculative basis.”
“Northwest Houston has always been a prominent area for crane served tenants and owners in this area,” said Steve Adkisson of Adkisson Group. “With access off Brittmoore Rd. and Beltway 8, we felt we could compete with any existing building in the marketplace.”
Regardless of the Covid-19 pandemic and drop in oil earlier this year, Adkisson Group has always anticipated demand for high-quality manufacturing space at a rental rate well below new construction pricing, Adkisson said.
The Brittmoore campus has buildings with overhead crane lift capacities of up to 100 tons and hook heights ranging up to 58 feet. Several buildings on the property offer 100 percent HVAC, heavy power and lab space.
The property is near Highway 290 on Beltway 8 with ingress and egress to both Beltway 8 and Brittmoore Road.
The Lee & Associates – Houston team will also be marketing the property for lease.
In its second quarter report, Lee said Houston’s industrial vacancy rate was 7.9 percent, up from 6.3 percent in the second quarter of last year. Year-to-date absorption was 2.3 million SF.
“Many transactions are getting done on the investment and purchase side but transactions in leasing have cooled either by delay/analysis or they have outright cancelled,” the second quarter report says.
Sept. 2, 2020 Realty News Report Copyright 2020
File: Houston Manufacturing Campus Acquired
File: (2) 6500 Brittmoore Road. Northwest Houston Manufacturing Campus Acquired by Adkisson Group
Photo: Courtesy Lee & Associates – Houston
