Brokers were quoting 50 cents per sf, on a monthly net basis, for the industrial space at 10795 Hammerly Blvd., owned by Trumm Inc. of Houston. "The final negotiated price was pretty close to the quoted rate," Thad Hickman, senior vice president with Grubb & Ellis Co.'s Houston office, tells GlobeSt.com. He and Tyndall Yapp, also with Grubb & Ellis, negotiated the transaction for Trumm. Jim Everist with CB Richard Ellis Inc.'s Houston team and David Toone with PinPoint Commercial LP were the tenant's representatives.
Hickman says the deal included some tenant improvements. "Mainly it was painting, carpeting and a few minor changes," he notes.
Mitsubishi's new location is part of a 96,000-sf office/warehouse. The 20-year-old building is now 70% occupied. The company also has its headquarters and manufacturing on a 42-acre complex at 2121 W. Sam Houston Parkway North.
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