Southwest Wire Rope took over 23,000 sf at 8301 W. Monroe from its sister company, Sermatech International Inc., on a temporary basis while its brokers searched the market for a better long-term fit, L. Michael Wallace with Colliers International in Houston tells GlobeSt.com. That better fit cropped up at 1805 Turning Basin, about nine miles to the north. In turn, Best Equipment Services stepped up to take the Monroe Street location for the balance of Sermatech's term, which runs through 2007.
Wallace and Gary Mabray, also with Colliers International in Houston, brokered the contracts for the sublease and relocation spaces. The Monroe Street structure is owned by the Lawrence Trust; and the Turning Basin property is a First Industrial building, the bulk of which is leased to C&D Warehouse. Grady Farris of Houston Industrial Brokerage represented C&D Warehouse in the talks to place a tenant into the space for the balance of its term, which also runs through 2007.
The per sf costs for the sublease space isn't available, but comparable direct space in the southeast submarket is bringing rents of 20 cents per sf to 23 cents per sf, according to the latest market report by Grubb & Ellis Co.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
