Situated on 9.5 acres near the international freight forwarding terminal on the east side of Houston's George Bush Intercontinental Airport, the building is fully occupied by Forward Air, which signed a long-term lease for the space. It boasts a 24' clear height with the ability for both dock high and grade level loading.
The building was acquired in an off-market transaction, according to Adam Jackson, a senior associate with Stream Realty Partners L.P. who represented AMB Property Corp., along with Kyle Valentine and Justin Robinson. Dan Zoch of The Carson Cos. represented the Newport Beach, Calif.-based buyer.
Jackson tells GlobeSt. that AMB Property Corp. initially had no plans to sell the Forward Air facility. However, the pricing The Carson Cos. offered was very attractive. He notes that the cost of construction for similar buildings would be $65 to $80 per square foot.
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