Tam International provides inflatable packers and down-hole products and services to the energy industry. The company plans to start construction in late Q1. The completion date was not available.

Market sources say industrial land in the submarket can sell for $4.25 per sf to $6 per sf. Micheal Palmer, senior vice president with CB Richard Ellis' Houston office, says the land is a prime piece of real estate located along US Hwy. 290 near Pinemont Drive.

Another advantage to the parcel is it's just down the street from TAM International's headquarters and manufacturing buildings at 4620 Southerland Rd. TAM International owns the two-building complex, which totals close to 66,000 sf.

"They've outgrown their existing production facilities and need a larger one," Palmer says. He tells GlobeSt.com that TAM International will hang onto its existing buildings for a few specialty functions. "If nothing else, they'll lease it out," he adds. The buyer's team also included CB Richard Ellis' associates John Simons and Susana Rosas.

Palmer says many options were considered during the search period, including leasing space in an existing building. "Most energy manufacturing companies have unique functions and purposes with their product," he says. "To adjust the manufacturing process to existing buildings isn't the easiest to do."