HOUSTON – Miller Road Realty purchased 80.4 acres on the northeast side of Houston on Highway 90, an industrial corridor that has vast amounts of outdoor pipe storage.
Trey Erwin of Colliers International represented the buyer in the transaction. Erwin said plans for the property are for use as a pipe threading facility.
Frank Blackwood of Capital Real Estate Commercial represented the seller, Williams Brothers Construction Co. At one time, the property, which is mostly raw land, had a listing price of $3.2 million or 92 cents per square foot. It is near Adlong Johnson Road.
Highway 90, called the Beaumont Highway or Crosby Freeway, is not far from the Port of Houston where huge amounts of steel and pipe are imported for energy exploration. Steel imports have been down in recent months as domestic drilling activity has diminished in this new era of low oil prices.
But the Highway 90 pipe yards remain, representing – as a whole – one of the largest, possibly the largest, inventories of stacked pipe in the world.
Dec. 26, 2015