Doug Nicholson of Grubb & Ellis Co. in Houston is the representative for General Stevedores as well as building owner, Hatch & Kirk. The building owner is a Seattle-based company that restores ship engines. The freestanding metal buildings are grade-level and include overhead cranes.
According to Grubb & Ellis research, there is more than 10 million sf of industrial space in the ship channel submarket. The vacancy rate is 4.2%. The submarket is getting rental rages of 38 cents per sf for warehouse distribution space and 84 cents per sf for research and development and flex space.
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