The Grubb & Ellis Co. Houston team of Thad Hickman, senior vice president, and Tyndall Yaap, vice president, represented the building owner, Auburndale Properties. Hickman and Yaap could not be reached by press time for comment on the deal, undoubtedly one of the largest to come down the pike in recent months.
Gulf Winds will relocate from 3240 S. Loop East. The full-service logistics company also trades in green coffee, tea and other specialty food items.
According to O'Conner & Associates, the far southeast submarket has more than 141 properties with an aggregate 7.3 million sf. In May, the area's overall vacancy rate was just 4.56%. Vacancy stood at 5.6% for office-service center space, 12.87% for heavy manufacturing and a surprising zilch for warehouse space.
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