Doug Bates of Henry S. Miller Commercial in Houston represented the seller, Chemtura Corp. in Middlebury, CT. Jeff Trevino of the Michael Group, also in Houston, represented Brian and Royal Long, who will use the 7.5-acre site at 13200 Almeda Rd. for their own business.
Bates tells GlobeSt.com that the buyers purchased the property for well under the appraised value of $1 million. "They got a super deal on that," he says.
According to Bates, the property was on the market for two years due to environmental issues that were ultimately worked through. "It was one of those deals in which they had a lot of reports issued on the site, then those reports got lost, then they had to redo all the testing again," Bates tells GlobeSt.com. "That whole thing took a year, mainly because [the seller] didn't have the documents."
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