Jay Jenckes, a Houston associate for Grubb & Ellis Co., tells GlobeSt.com that Blockbuster was looking for a location close to Houston's main bulk-mail facilities along Franklin Street and near the George Bush Intercontinental Airport. "Blockbuster was looking for easy access to the bulk-mail facilities," he says. Jenckes teamed with Grubb & Ellis' Thad Hickman and Tyndall Yapp to negotiate the transaction for Dallas-based Blockbuster.
Situated on six acres in the northwest submarket between Interstate 10, Loop 610 and US Highway 290, the 137,500-sf facility is now 100% leased. Built in 1969, it leases for about $3.48 per sf, Jenckes says. Building owner Houston-based Yale Street Partners had Trammell Crow Co. director David Hudson bargaining its terms.
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