Pat Pollan Sr., vice president for Houston-based Yancey-HausmanCommercial Real Estate Services, says Glazier opted to pursue asale-leaseback for 11303 Antoine Dr. because it needed to expand."Their growth has been phenomenal over the past three or four yearsand they have commitments that required more space," the seller'sbroker says. He adds that the food distribution company decided toput its resources into its core business rather than real estate,which is what prompted the sale.

Glazier Foods' management has signed an 18-year lease withseveral renewal options at market rate. In the area, comparableindustrial space is leasing for $5 per sf to $7 per sf.

Pollan tells GlobeSt.com that the office/warehouse, situated on33 acres, attracted a mix of buyers, including several nationalindustrial REITs. The property went through a bid process and abest and final before locally based GSL came out the winner.