Future Enterprises plans to move into the building in March or April, Chris Caudill with the Houston office of NAI Partners Commercial tells GlobeSt.com. He along with John Ferruzzo and Travis Land, also of NAI's Houston office, represented the buyer in the sale.Hollander Glass Texas Inc. had its building on the market about six months for $1.1 million before the electrical parts distributor placed the offer for a property with a Harris County assessment of $895,900.
Caudill says the New Jersey firm was motivated to buy due to low interest rates and the favorable buyers' market. The search started on the south side of town and then moved to the northwest submarket, according to Caudill. The Pinemont Drive building has a 10% office finish and 1.5-acre tract with proximity to US Highway 290 and Interstate 10, a combination that swayed the deal, he explains. A CB Richard Ellis Inc. team in Houston, Bill Rudolf and Gray Gilbert, represented the seller.
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