Gary Mabray of the Houston office of Colliers International tells GlobeSt.com that the acreage has been under contract since June. Buyer Cagle Lumber & Pallet has fine-tuned plans that call for the renovation of a 10,000-sf industrial building plus construction of 50,000 sf to 100,000 sf on the 11101 Todd St. property, Mabray says. Cagle intends to relocate from an owned facility at 608 Dumont St. in South Houston when the work's done.

Jack Butera of Brown, Butera & MacDougall of Houston represented the buyer. The property was marketed at $2.25 per sf or $739,976. Mabray represents Air Liquide in the sale of the Texas assets while Colliers' Cleveland office is handling the balance of the disposition. Aire Liquide America ended up with the assets as a result of corporate acquisitions over the years by its French parent, a global provider of industrial and medical gases.

It's the third in the disposition package to sell. Last summer, Air Liquide sold five acres at West 12th Street and Seamist Road in Houston to Tangley Development for about $650,000 and a 4,000-sf industrial building on one acre at 925 Oil Patch Rd. in Gonzales to Specialty Mud Co. for $40,000. The remaining Texas properties are two tracts with small industrial buildings in Pearsall and San Antonio and raw land in Freeport, Pasadena and Bay City.