Colliers is pleased to announce the sale of a ±23,178 square foot industrial building located at 1631 Cottonwood School Road in Rosenberg, Texas. The buyer, Red Consultants, was represented by Joseph Sturek of First Houston Properties. The seller, Universal Rectifiers, was represented by Barkley Peschel of Colliers.
“Rosenberg is a tight market with limited availability for industrial properties in this size range, so we are proud to have matched this unique property with a new owner,” said Barkley Peschel of Colliers. “We look forward to continuing to serve Rosenberg’s area owners and users.”
The property is within Houston’s Southwest Far industrial submarket, which contains 24.4 million square feet of industrial inventory that is currently 90.3% occupied. Net absorption of 295,251 square feet and leasing activity of 322,804 square feet were reported during the first quarter. Seven properties totaling 793,925 square feet are under construction while seven properties totaling more than 1.0 million square feet were delivered in the submarket during the first quarter. The submarket currently offers an average asking rental rate of $9.17 per square foot.
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Colliers is a leading diversified professional services and investment management company. With operations in 66 countries, our 19,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 29 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of approximately 20% for shareholders. With annual revenues of $4.3 billion and $98 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.
