The firm took over the location with a medium-term lease, John Ferruzzo in the Houston office of NAI Partners Commercial tells GlobeSt.com. He and NAI's Chris Caudill represented the building owner, Houston-based MLT Investments Inc. in the lease negotiations and were the only brokers on the deal. The new tenant, a distributor of industrial supplies, is the first one signed for a 20,206-sf vacant complex that was recently traded.
The two-building complex was built about 37 years ago on nearly an acre. The connected buildings share a 1,500-sf fenced rear yard and is situated near Griggs Road in the Griggs industrial district.
The Southeast Houston submarket has one of the region's lowest vacancies, 4.7% vacancy in an inventory of about 40 million sf, according to CB Richard Ellis Inc.'s latest statistics.
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