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