Chris Kugle with NAI Partners Commercial in Houston tells GlobeSt.com that seller, John Hartnack of Dallas, purchased the building in February 2003 to house one of his businesses, American Engine. The seller's broker says the business closed and Hartnack put the building up for lease or sale.
Kugle says leasing interest ran high during the 60 days of marketing, but the offer to buy from PDQ Machine Shop Inc.'s owner won the day. Tyndall Yaap with the Houston office of Grubb & Ellis Co., handled the acquisition for the startup. The buyer secured a loan from Sterling Bank to purchase the one-acre asset.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- 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
Already have an account? Sign In Now
*May exclude premium content© 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.
