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Deal Tracker: Industrial Leasing and Sales Remain Steady

HOUSTON—Despite the somewhat gloomy forecast, leasing and sales continue at a steady clip, with firms readily taking space from 100,000 square feet downward as well as selling space in and around the metro.

By Lisa Brown | lisabrown | | Updated on August 09, 2016
JV Industrial Companies JV Industrial Companies subleased a distribution facility (photo courtesy of CoStar).
HOUSTON—The overall economic outlook has again declined for Texas and Houston, despite some intermittent positive signs, according to NAI Partners ‘ recent industrial report. The oil and gas downturn is now manifesting throughout Houston beyond just those direct businesses. The hopes are that the oil industry will swing back up before the national economy slows, which remains solid despite some mixed numbers and slowdowns, says NAI. Despite the somewhat gloomy forecast, leasing and sales continue at a steady clip, with firms readily taking space from 100,000 square feet downward as well as selling space in and around the metro. Most recently, specialty welding firm , JV Industrial Companies Ltd. subleased a 90,410-square-foot industrial distribution facility located at 750 Almeda Genoa Rd. Jason G. Whittington of NAI Partners represented the sublessee, JV Industrial Companies Ltd. during the negotiations, while Jim Vann of Moody Rambin represented the sublessor, Fortitude Manufacturing LLC . Whittington tells GlobeSt.com: “Due to the specifics of the requirement and length of time needed, the space and sublease term fit well.”  Founded in 1998, JV Industrial Companies has become the leading provider of turnaround and specialty service to America’s process industry. It offers a comprehensive suite of the capabilities required to perform work to the highest standards of quality, safety and timeliness. NAI Partners also represented Southbelt Park Ltd. in the disposition of another Houston industrial office/warehouse building totaling 21,000 square feet. The building is located at 13739 FM 529. John Ferruzzo , SIOR, Nick Peterson and Josh Lass-Sughrue , all of NAI Partners represented the seller, Southbelt Park Ltd. In the negotiations, while Kerry Shawell of BHHS Anderson Properties represented the buyer, Tom & Val English Trust . Finally, SEOS LLC sold 6,600 square feet of warehouse facility with stabilized yard area on 4.33 acres to buyer, eSoftronix Inc . Michael Keegan of NAI Partners brokered the transaction between the seller and the buyer.  

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