The developer bought 403 S. Loop West, listed at close to $1.4 million, and sold 7922 Hansen Rd., a 4.4-acre property that went to the first bidder, BJH Holdings Inc., for slightly less than the $1.5-million asking price. The local steel fabrication company tapped the site for an expansion.
Troy Collins and Clay Pritchett, both in the local office of Yancey-Hausman, represented Schroeder. Clay Peeples and Mike Boyd, a team with Boyd Commercial LLC in Houston, brokered for BJH Holdings.
Collins tells GlobeSt.com that the property was on the market about a month when BJH Holdings came along and made an offer. Peeples says the buyer looked at all available properties in that size range, but felt the Hansen Road building was the best fit.
In a turnaround play, Schroeder, which wanted to settle in a better location for its operation, then used the exchange money to buy a building on 4.6 acres that Peeples was marketing. The crane-served, metal building is situated about 12 miles southeast of the developer's old address. Peeples says Schroeder was the only bidder for property sold by Mapia Investments, a subsidiary of Eagle Plant Equipment Inc. in Houston. Schroeder immediately jumped into making some cosmetic improvements, moved into the bulk of the building and leased the balance to a fabrication company.
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