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All-Cash Deal Wins Office/Warehouse Deed

HOUSTON-EDM Office Services swaps a lease for the deed to 2500 Karbach St., brought to market by a Cincinnati investor who believed there were more opportunities to sell than secure a replacement tenant for the 17,900-sf building.

By Jennifer Brenner Andrade | Updated on December 08, 2003

HOUSTON-A 17,900-sf office/warehouse has sold in the ongoing wave of small business owners exchanging leases for deeds. The latest to sell is 2500 Karbach St. in the northwest submarket.

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.

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