Colliers is pleased to announce the sale of a ±16,141 square foot office warehouse situated on 2.52 acres in the Tomball Business & Technology Park located at 2121 S. Persimmon Street, Tomball, Texas. Tom Condon Jr. of Colliers represented the seller, KTB Properties LLC, in the transaction. Al Gosen of Texas United Realty represented the buyer, W E Mauney LLC. The closing was coordinated by Jane Mathews and Erin O’Neal with Stewart Title – Tomball.
“This sale is a great example of the ongoing demand for Class A industrial properties in Tomball,” said Tom Condon Jr. of Colliers. “The property’s versatile space and strategic location made it an attractive choice for the buyer.”
The facility offers ample space with outside storage, allowing the buyer to eventually relocate three of its businesses into one location.
The property is within Houston’s North Freeway/Tomball Parkway industrial submarket, which contains 40.1 million square feet of industrial inventory that is currently 91.8% occupied. Net absorption of 427,392 square feet and leasing activity of 427.727 square feet were reported during the second quarter. Industrial space is expanding in the area with 15 properties totaling 1.2 million square feet under construction, and four properties totaling 254,536 square feet recently delivered. The submarket currently offers an average asking rental rate of $10.10 per square foot.
About Colliers
Colliers is a leading diversified professional services and investment management company. With operations in 68 countries, our 22,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 28 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of approximately 20% for shareholders. With annual revenues of more than $4.4 billion and $96 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, X @Colliers or LinkedIn.
