Ferruzzo tells GlobeSt.com NRM Equipment is an entity formed by Houston-based Control Rooms of Texas to purchase the building. Control Rooms of Texas has been a tenant in the building for over ten years, notes Ferruzzo. With six to nine months left on their current lease, the firm organized themselves to purchase the building. Control Rooms of Texas uses the facility to manufacture big-box power generators for use in remote locations such as oil rigs or desert expeditions.

The 40-year-old building, which Ferruzzo says has been renovated over the years, has been owned since the mid-1980s by Houston-based Chapman & Cole. Chapman & Cole represented themselves in the deal.

Ferruzzo wouldn't disclose the sale or asking price, noting that the building was not officially on the market, but an independent real estate expert tells GlobeSt.com the property, which is crane-served and has excess land, would be worth somewhere near $700,000.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.