The final price was "south of the ask, but not too far south," says Chris Caudill, senior associate of NAI Houston who, with colleague Joel Michael, ran the $400,000 listing Narcia Win Moore, owner of Alief Signs. The buyer was self-represented.
Built in 1980, the office/warehouse at 10406 Rockley Rd. is assessed at $230,213 by Harris County. Caudill says Moore was retiring and wanted to sell the property in the Dunn Southwest Business Park.
Caudill tells GlobeSt.com that the property was on the market for a week when an offer was made. It immediately went under contract. "It's in the southwest market of the area," he explains. "Down there, in that area of town, there's a real lack of small buildings for sale within the 5,000 to 30,000-sf range. So when one is put on the market, it's snapped up, as this one was."
According to second quarter statistics the industrial sector, low vacancy rates and increased absorption are the trends. Small owner-user stock is considered a rare find in the city, particularly in industrial areas like the southwest and northwest. Adding to the demand factor is the minimal new construction in AH Securities' new location.
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