Chris Caudill with the Houston office of NAI Partners Commercialrepresented the buyer, Diamond M Holdings, which got a three-acreholding at 100 Fellows Rd. near the Sam Houston Tollway. He tellsGlobeSt.com that the sale/leaseback is perfect because his clientstill has one year remaining on a leased site near the downtown andseller H&E Equipment has a year to go before its new buildingis finished. The asset sold for close to the $450,000 askingprice.

Caudill says the buyer looked for several months in thesouthwest sector for a property to purchase. The H&E asset hadbeen on the market just a few days when they placed thecontract.

Jack Butera of Brown, Butera & MacDougall in Houstonrepresented the seller. The Harris County Appraisal District hastacked a $323,930 assessment on the property.

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