HOUSTON-SSA Marine Inc., the largest U.S.-owned container terminal operator and cargo handling company in the world, has inked a three-year lease for 251,600 square feet at Railwood Industrial Park. The company’s Trans-Hold subsidiary will occupy the space, using it as a regional distribution facility.
“This is a good-size transaction for the Houston market because it’s not nearly the distribution market that Dallas-Fort Worth is,” says Bill Rudolf, a senior vice president with CBRE’s local office.
Rudolf represented SSA Marine, along with Gray Gilbert and Jim Stark, also with CBRE. The landlord, Warehouse Associates, was represented internally by D.R. David Warehouse Associates represented the landlord.
Currently, Trans-Hold’s distribution operations are located at 3405 Navigation, where it occupies roughly 186,000 square feet. Although the company’s lease was scheduled to expire soon, the company began searching for new space because rail service to its site was discontinued, Rudolf says.
Rudolf tells GlobeSt. that SSA Marine wanted a building in east Houston with rail service. After looking for six months, the company ended up with 10 options. It preferred the building at 8905 Spikewood Dr. in Railwood Industrial Park because of its location, access to Union Pacific tracks and its immediate availability though a sublease with the existing tenant, United Dc Inc.
Rudolf says United Dc had one year left on its lease and wanted to sublease its space. “After we negotiated with United Dc for the space, we realized that it would be better to do a direct deal with the landlord,” he notes.
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.
