The office/warehouse, sitting on a one-acre tract at 6912 Rampart St. in the southwest submarket, is fully leased to 13 automotive-related businesses. Ross Cannizaro with Marcus & Millichap's local office tells GlobeSt.com that the seller, also the developer of the 23-year-old asset, decided to dispose of it "in order to pursue other ventures." He and Marcus & Millichap's Jeff Barbles and Rob Chandler marketed the property for seller of record, Rampart III JV in Houston.

Cannizaro says one contract fell out to drive an extra week on the market. The successful buyer won the nod because he owns several other industrial properties in the metro area and had the wherewithal to close the deal.

The property generated interest due to a location near Hillcroft Street and Bellaire Boulevard in an area of southwest Houston that is popular with industrial firms, according to the broker. Cannizaro says the area is so popular that Rampart Business Park has a waiting list for prospective tenants, who occupy smaller suites with month-to-month leases at rents slightly less than the market rate of 45 cents per sf to 55 cents per sf. The buyer used in-house representation to broker the sale, which Cannizaro says is intended to be a long-term investment hold.