Search
 

Wholesaler Buys 80,030-SF HQ Facility

STAFFORD, TX-The Palm Tree Group, a distributor of healthcare products, pays about $3.4 million for an office/warehouse in the Corporate Business Park. Come June 25, 38 employees, six from Miami, will open doors on the headquarters and distribution facility.

By Jennifer Brenner Andrade | Updated on June 17, 2004

STAFFORD, TX-A Houston-based wholesaler of healthcare products has spent close to $3.4 million for an 80,030-sf office/warehouse as a consolidation location for the South Texas workforce and part of the Miami team.

The Palm Tree Group, now leasing an office in the Medical Center, bought 12701 Directors Dr. in the Corporate Business Park in Stafford from the Simpkins Group of Houston, which flipped the 6.7-acre property after a seven-month hold. Rob Bryant, Simpkins’ executive vice president, says the property was on the market for lease or sale with a $3.4-million ask. The preference, he says, was to find a tenant since the property was bought as an investment. But then, several sales offers were placed. Palm Tree’s was the highest, he says.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 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.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.