Colliers is pleased to announce the purchase of an 87,850 square foot industrial property located at 5630 Renwick Drive in Houston, Texas. The seller, SGTMI, was represented by Eric Hughes and Mark Lehman of Centermark Real Estate. Zack Taylor of Colliers represented the buyer, Sparx Logistics USA, in the transaction.
“Despite a challenging financial environment, Sparx was able to close on a fantastic asset,” said Zack Taylor, Senior Vice President of Colliers. “Thanks to everyone involved in getting this deal closed.”
The class B industrial warehouse property sits on 5.90 acres and has an 87,850 square foot building that includes a 9,600 square foot office space. It has a 36-foot clear height and contains sixteen dock-high loading doors with two additional drive-in grade-level doors. The fenced lot has controlled gate access.
Sparx Logistics is a global firm established in 2014 as the legacy enterprise of a freight forwarder established in 1974. Sparx now has over 50 offices in over a dozen countries. Sparks prides itself on providing logistics know-how to bring clients’ global supply chains to the next level.
The property is located in Houston’s Highway 59/Highway 90 industrial submarket. The submarket contains 30.1 million square feet of industrial space which is currently 94.7 percent occupied. The average asking market rental rate is $8.67 per square foot and there is 19,000 square feet of industrial space currently under construction in the submarket.
About Colliers International Group Inc.
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 62 countries, our 17,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 27 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of 20% for shareholders. With annual revenues of $4.3 billion and $65 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.
