Search
 

Firm Buys, Leases, Sells With 2005 Business Plan

HOUSTON-Daniel Industries Inc., a subsidiary of Emerson Electric Co., puts it 1970s-era campus on the market and makes a commitment for newer space in the Valley. The firm buys a 175,000-sf industrial build-to-suit and leases a 71,000-sf office building.

By Jennifer D. Duell | Updated on January 11, 2005

HOUSTON-In an effort to gain efficiencies, Daniel Industries Inc. has purchased a 175,000-sf industrial build-to-suit and leased a 71,000-sf office building.

The Emerson Electric Co. subsidiary owns and occupies more than 300,000 sf of industrial and office space on a 33-acre campus near Interstate 10 and Bunker Hill Road, which is now up for sale, Curt Stanton, a principal with Chicago-based Paine/Wetzel Oncor International, tells GlobeSt.com. “Daniel wanted to get into more efficient space,” he says, explaining the 70-year-old company has been housed at the campus since it was built in the mid-1970s.

Stanton says Daniel Industries need a crane-served facility with 42-foot clear heights. “We looked long and hard to find an existing facility that would meet their needs, but we couldn’t find one,” he says. “We would have preferred to have all the operations in one location, but the build-to-suit and office lease was the best economic situation.”

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.