Friday, January 24, 2014

Marcus & Millichap Sells Houston-Area Industrial Building


108,000-square-foot industrial building, Hemstead, TX

Christopher W. Jones
HEMPSTEAD, TX,  Jan. 24, 2014 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of an approximately 108,000-square-foot industrial building in Hempstead, Texas.

The property is triple-net leased to Logan Industries International Corp., an industry leader in hydraulic repair, fabrication, winches, hydraulic field service and hydraulic design serving the offshore oilfield industry. Hempstead is a city in the northwestern area of the Houston-The Woodlands-Sugar Land metropolitan area. The terms of the sale were not released.

            Christopher W. Jones, an associate in Marcus & Millichap’s Houston office, represented the seller, a private investor. Charlie Hampton III, an associate vice president investments in the firm’s Seattle office, represented the buyer, a limited liability company.

            “Logan Industries recently signed an extended lease on the property to accommodate the company’s rapid business growth, and the firm may soon need additional on-site expansion,” says Jones.

Charlie Hampton III
            “The sale includes land for additional development and the location provides convenient access to Logan Industries’ customer and employee bases,” adds Hampton.

            Located at 1000 Blasingame Road in Hempstead, Texas, the property is situated on approximately 13 acres in a U.S. Highway 290 business park adjacent to a Southern Pacific rail line near the intersection of U.S. Highway 290 and Texas State Highway 6.

            Constructed in 2009 and expanded in 2013, the building is a tilt-wall constructed, crane-served, high-bay manufacturing facility with an approximately 60-foot high bay area, two 40-ton overhead cranes, five 15-ton overhead cranes, climate-controlled labs and clean room, and finished office space.

For a complete copy of the company’s news release, please contact:

Gina Relva
 Public Relations Manager
(925) 953-1716

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