Colliers is pleased to announce the sale of an industrial property on 6421 N Shepherd Drive in Houston, Texas, that includes a ±17,433 square foot office/warehouse space on ±4.38 acres. The buyer, Holdings Enterprise, was represented by Zane Carman of Partners Real Estate. Jeff Peltier and John Parsley of Colliers represented the seller, R & J Partnership, in the transaction.
“There has been a strong demand for industrial properties with sizable tracts of land located near key interstate highways in the inner City of Houston,” said John Parsley, Principal & Director of Colliers. “Due to this property’s ideal quality and location, it had multiple interested parties.”
The property, located in the Little York Annex near Interstate 45, includes two buildings on acreage with ±2,000 square feet of office space, three-phase power, a fifteen-foot clear height as well as ten grade-level loading doors.
The property is located in Houston’s Northwest Near industrial submarket. The submarket contains 20.5 million square feet of industrial space which is currently 96.0 percent occupied. 21,600 square feet of new inventory delivered over the last twelve months in the submarket. The average asking market rental rate is $7.97 per square foot and there is 240,000 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.
