Tamlyn tells GlobeSt.com that Chisholm Trail Distribution Center received more than seven offers because of "the value-added opportunity to increase occupancy." At the time of sale, the buildings were 80% leased to local and regional tenants on three- and five-year terms. They lease for about $5.40 per sf.

Located at 18207 and 18209 Chisholm Trail, the 20-year-old buildings are close to George Bush Intercontinental Airport and accessible to Interstate 45. According to Harris County Appraisal District, the buildings have a combined value of $1.6 million.

Irving, TX-based Cobalt Capital, which was represented internally by Tom Fishman and Len Friedland, paid cash for Chisholm Trail Distribution Center and retained Trammell Crow Co. to handle the leasing and management of the complex. Cobalt Capital, which is funded by San Antonio-based USAA, is actively looking for industrial assets in Houston among other parts of the nation, Tamlyn says. The investment firm made its first buy in the city in October 2002 when it acquired the Astro Business Center, a six-building office/warehouse complex consisting of 203,882 sf. Tamlyn and Tullier were also involved in that transaction.