A foreign institutional group has sold a 27,211-square-foot industrial facility in Brookshire, Texas, for $4.2 million. The southern California buyer purchased the asset through a 1031 exchange. Stan Johnson Co. Director Zach Harris worked on behalf of the seller, while Colliers International Executive Vice President Mike Erwin represented the buyer. The property last traded in 2014, according to Waller County records.
Located at 502 FM Highway 359 Road S. on a 5.2-acre site, the building provides ample parking space. With quick access to Interstate 10, the facility is easily accessible from Houston. At the time of sale, the building was fully leased to H&E Equipment Services, with more than 10 years of lease term remaining.
Recently, another Colliers International team acted on behalf of JM Smucker Co. in the signing of a 1.1 million-square-foot lease. The CPG manufacturer moved in Logistics Property Co.’s 252-acre master-planned logistics space in Wilmer, Texas.
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