Colliers is pleased to announce the successful sale of an ±8,400 square foot single-tenant investment located at 10819 Fairmont Parkway in LaPorte, Texas. The seller was represented by Mike Taetz, Todd Moore and Connor Duffy of Colliers.
“We are thrilled to have closed this transaction for our client and appreciate the efforts of all parties involved in making it a smooth and seamless process,” said Connor Duffy of Colliers. “The demand for net lease industrial properties remains exceptionally high, while supply is limited. The fundamentals of this opportunity were extremely strong: the La Porte Submarket boasts a 2.7% vacancy rate, high tenant demand, proximity to the port, and high barriers to entry. Consequently, this site was under contract within just seven days of marketing.”
The ±8,400 SF industrial warehouse building was built in 1999 and is situated on ±.8453 acre. The site is located on West Fairmont Parkway, west of Bay Area Blvd, southeast of Houston in La Porte, TX. The location provides easy access to Highway 146, Highway 225, Beltway 8 and is in close proximity to a number of major petrochemical manufacturing complexes and the Ports Barbours Cut container terminal.
About Colliers
Colliers is a leading diversified professional services and investment management company. With operations in 68 countries, our 19,000 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 $4.5 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.
