EDM Office Services Inc. bought a building that came to market for $525,000 from Karbach Investments LLC, a private investor from Cincinnati. David M. Boyd with Boyd Page Commercial Real Estate Services in Houston, tells GlobeSt.com that the seller brought the asset to market after losing Southern Fastening Systems as a tenant because he felt there were more opportunities in selling than leasing. Within 30 days, four offers were in hand for the building, situated on about an acre between Hempstead Highway and US Highway 290. Boyd won't discuss the selling price, but did say the all-cash sale warranted a discount from the ask due to deferred maintenance.
EDM Office Services has started construction and will occupy the building in the near term. Josh LaRocca of InSite Commercial Real Estate in Houston represented the buyer.
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