Jesus and Marian Elena Hernandez plan to open a bakery in the facility. Ace Schlameus and Jay Kyle, both in the Houston office of Grubb & Ellis Co., represented the seller, Noor Enterprises, a Houston private investor who acquired the holding two years ago.
Schlameus tells GlobeSt.com that the building originally housed a Sam White Auto dealership and then a United Rental facility until nine months ago when it too pulled out.
The buyer was identified within two months of the listing hitting the market at an asking price of $2 million, says Schlameus. But, it took a year to close because of financing complications, the broker explains.
Schlameus says the Hernandez's are "meticulous in targeting their real estate acquisitions," noting the building's location was a strategic acquisition for the business owners.
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