Arthur Behrends Jr. of Houston acquired the asset at 6907 Alder Road in Bellaire, a suburb southwest of Houston, from a 20-year owner, who at one time used it for its oil and gas business, Beau Kaleel of the Houston office of Cushman & Wakefield of Texas Inc. tells GlobeSt.com. The seller's broker says the building never came to market because Behrends placed the right offer to seal the deal before it could hit the market.
Behrends intends to use the building for his high-tech business along with upgrades to the building. Kaleel says the acquisition, just off Bellaire Boulevard, "was a land play," with the new owner banking it for future use. According to Kaleel, the Bellaire area is experiencing a lot of business growth right now.
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