The building materials supplier from Eight Four, PA tapped land at 11203 Texas 3 (Galveston Road) near Beltway 8 on the southwest side of town. A groundbreaking date and building size have yet to be determined.
"The land was on the market for about four months. We just received the one offer," says Chris Kugle, an associate with NAI Houston, who represented Pavestone in the sale. Bob Chuoke of Clear Lake Realty negotiated for Hardy Management, owned by Joe Hardy, a multimillionaire who developed the world-class Nemacolin Woodlands Resort & Spa in Western Pennsylvania and was dubbed a British lord in the 1990s.
Geared toward demographics ranging from the do-it-yourself home repair specialist to professional contractors, 84 Lumber is the largest, privately-held building materials supply company in the US with more than 500 retail locations and 17 manufacturing component centers.
Pavestone, the nation's largest producer of concrete landscape products, had acquired the land through an acquisition, some years ago, of US Marble Co. in Georgia, but no longer needed the property. "This was simply surplus land for Pavestone," Kugle tells GlobeSt.com about the deal. "They already have a facility here in Katy so they didn't need the property any more."
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.
