Colliers is pleased to announce the purchase of the ±89,000 square foot industrial property located at 15800 Export Plaza in Houston, Texas. The property, situated on 9.7 acres, was purchased by Apricus Realty Capital led by Garrett Marler, Cort Martin, and Matt Haley and was represented by Jason Tangen and Paul Dominique of Colliers. The seller was represented by Jason Powell of Northmarq.
“This acquisition underscores the high demand for properties occupied by manufacturing and fabrication companies. We will continue to see an increase in demand for these types of properties in our market as this sector continues to remain resilient,” said Jason Tangen of Colliers. “We are proud to have assisted our client and are impressed with their knowledge of the Houston market. We look forward to further supporting their real estate needs.”
The property is within Houston’s North Hardy Toll Road industrial submarket, which contains 48.0 million square feet of industrial inventory that is currently 90.7% occupied. Net absorption of 773,543 square feet and leasing activity of 2.1 million square feet were reported during the second quarter. Industrial space is expanding in the area with three properties totaling 735,680 square feet under construction, and five properties totaling 482,232 square feet recently delivered. The submarket currently offers an average asking rental rate of $9.64 per square foot.
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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 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 $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.
