Partners acquired the 254,000-SF
Guhn Road Distribution Center.
HOUSTON-Close to a year after Forum Energy Technologies leased the entire 253,838-square-foot Guhn Road Distribution Center, owners/developers McShane Development Co. and MetLife Real Estate Investments sold the industrial property. The buyer was a commingled fund advised by Clarion Partners.
The sales price was not available for the asset at 6535 Guhn Rd., though the original asking price was $18.5 million. Rusty Tamlyn and Trent Agnew with Holliday Fenoglio Fowler LP represented ownership in the transaction. Justin Robinson and Kyle Valentine with Stream Realty Partners, the property’s exclusive marketing agents, also assisted ownership in Guhn Distribution Center’s sale.
McShane and MetLife broke ground on the industrial property in 2008 as a speculative project. Though the recession and its financial aftermath had an impact on leasing activity throughout Houston, the distribution center remained vacant until September, 2011, as the ownership wanted to reserve it for a single tenant. Forum Energy Technologies, which serves the energy industry’s operations, signed a 10-year lease for the property.