The 47-year-old building at 6666 Mykawa Rd. is positioned on a 14.6-acre tract. John F. Littman with the local office of Cushman & Wakefield of Texas Inc. says the asset came to market--for sale or lease--when its lone tenant moved out. The seller is an Austin-based investor who bought the holding in 1989. Littman and C&W's B. Kelley Parker III represented the seller, 6666 Mykawa Rd. Inc., while George Jones in CB Richard Ellis Inc.'s local office, brokered terms for the buyer.
Grocers Supply took over the vacant building in August under a lease agreement with an option to buy. Thirty days later, the grocery distributor exercised its buy option.Grocers Supply, operated by the Levit family, has more than 2,500 employees and a distribution network of 650 supermarkets, 1,200 convenience stores and 200 schools within a 350-mile radius of the city.
The Mykawa Road warehouse is located in a neighborhood with many industrial properties of the same vintage. The warehouse is about five miles east of Grocers Supply's headquarters at 3131 E. Holcombe Blvd.
Jones says an extensive search was conducted for an expansion location. The deal winners were the size and proximity to the distributor's other facilities. Grocers Supply owns at least 20 properties in the metro area.
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