Chris Caudill with the Houston office of NAI Partners Commercial represented the buyer, Diamond M Holdings, which got a three-acre holding at 100 Fellows Rd. near the Sam Houston Tollway. He tells GlobeSt.com that the sale/leaseback is perfect because his client still has one year remaining on a leased site near the downtown and seller H&E Equipment has a year to go before its new building is finished. The asset sold for close to the $450,000 asking price.
Caudill says the buyer looked for several months in the southwest sector for a property to purchase. The H&E asset had been on the market just a few days when they placed the contract.
Jack Butera of Brown, Butera & MacDougall in Houston represented the seller. The Harris County Appraisal District has tacked a $323,930 assessment on the property.
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