"Unit Drilling needed a warehouse between 10,000 to 20,000 sf that was crane-served," says John Ferruzzo, a principal with NAI Houston, who represented Unit Drilling in the transaction. "Buildings of that size with a crane are a pretty hot commodity because usually cranes are only found in larger buildings." The structure, outfitted with a 20-ton crane, also has plenty of extra land for outside storage.
"There was a lot of interest and it kind of turned into a bidding war," Ferruzzo tells GlobeSt.com. He says the final cut pitted four users and investors against each other. The company moves into its new space this month. Andy Sowell and Mike Boyd with Houston-based Boyd Commercial brokered the deal for the seller.
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.
