Buyer ACC Development of Houston is undertaking the renovation of its newly acquired 5801 Armour, a two-acre site that had been owned by Bridgestone/Firestone. The new owner is in the midst of serious talks with a single tenant, Marc Drumwright of Southwest Realty Advisors, told GlobeSt.com.
Drumwright, who represents ACC Development, says the lease is priced at 22 cents per sf, or roughly $12,000 a month income. The property is located on the southeast side of the ship channel in a heavy industrial section. Bridgestone/Firestone had used the building as a distribution site. ACC Development has other holdings in Houston, including apartments and condominiums. Richard Finnerman of Partners Commercial had represented the seller.
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