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GlobeSt.com EXCLUSIVE: 72-Acre Port Facility Sells

HOUSTON-The sale allows expansions by seller and buyer. Valero, an importer of crude oil, wants to build a larger facility along the ship channel while North Texas Cement/Ashgrove Cement, an importer, is adding to a 20-acre operation across the slip.

By Jennifer Brenner Andrade | Updated on January 06, 2004

HOUSTON-Valero Energy Corp. has sold a 72-acre deep-water dock facility in the Houston Ship Channel to a locally based private corporation, bringing an all-cash close to a yearlong marketing of an asset priced to sell at $11.5 million.

The buyer, North Texas Cement/Ashgrove Cement, will use the site to expand its ship channel operation, now housed on 20 acres directly across the slip where it offloads imported cement. The 922 Mayo Shell Rd. purchase is rail-served acreage, about a mile from the Loop 610 East Bridge. The facility consists of a ship slip for docking a 750-ft boat and a dock large enough to hold two 350-ft barges. Valero, a Fortune 500 independent refining and marketing company, used the site for offloading crude oil.

C.A. Rousser with the Rousser Co. in Houston says his client “bought this as an expansion project and plans to make modifications to the existing deepwater dock.”

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