Colliers Sells ±4.18 Acres Along Beltway 8 in South Houston

Colliers is pleased to announce the sale of ±4.18 acres located between Beltway 8 and Fellows Road in Houston, Texas. The buyer, Fellow Houston Investment, LP, was represented by Travis Land, AJ Williams and Alisha Renshaw of NAI PartnersTom Condon, Jr. of Colliers represented the seller, David Christian, in the transaction.

The subject property is situated along Beltway 8 and Fellows Road just west of SH 288. The unrestricted property is outside the city limits of Houston and Pearland. On behalf of Fellow Houston Investment, Adkisson Group Development plans to construct a ±61,700 square foot rear-load distribution building with an estimated completion date of March 2023.

The property is located in Houston’s South Hwy 35 industrial submarket. The submarket contains 43.7 million square feet of industrial space which is currently 97.2 percent occupied. The average asking market rental rate is $7.76 per square foot and there is 91,500 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 $4.1 billion and more than $50 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.