First Industrial Realty Trust Inc. has sold buildings 6 and 7,each 55,200 sf, at 4802 N. Sam Houston Pkwy. W. in the 21-acrepark. First Industrial is continuing to lease and manage the pairas well as the five remaining buildings, which are still on themarket.

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"We'd brought all seven of the buildings to market and were ableto make a deal with GID for those two," says Michael Parker,associate director with Holliday Fenoglio Fowler LP in Houston. Hetells GlobeSt.com that Bammel Business Park was brought to marketin 2007 before First Industrial began construction.

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Parker acknowledges the project didn't attract a whole lot ofinterest from buyers in the beginning because it was in thebuild-up phase. GID came into the process early, however, and gotto know the property well. "GID was the right buyer at the righttime," Parker says.

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According to HFF, Houston's northwest industrial submarket stoodat 88% occupancy, with 5.5 million sf vacant in the 47.7-million-sfinventory at the end of the second quarter. An additional 1.8million sf is under construction.

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"Leasing velocity is strong in that submarket and it's spurringdevelopment," Parker explains. He says Bammel Business Park is oneof the last remaining sizeable sites tagged for industrial use."This was one of the ones between I-45 and I-10 that was largeenough to make development feasible," he adds.

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