Brian Knowles, vice president of the industrial services group of CB Richard Ellis, represented the buyer in the transaction, while Colliers Houston spoke for the seller. The terms of the deal, including the sale price, were not released.
"In this challenging marketplace," Knowles says, "we are currently witnessing an increase in the number of manufacturing and distribution companies that are looking to buy industrial facilities to suit their business objectives.
"The current market environment is one of low interest rates and aggressive financing options, coupled with a shortage of product that is available for sale," Knowles continues. "We were able to find, through our regional evaluation, a facility that met all of GCC Drum's financial and operational needs."
GCC Drum's new location is situated on an 8.5-acre site at 11 Executive Dr. within Heller Industrial Park, a project of Heller Industrial Parks Inc., also based here. The building was originally developed as a build-to-suit for ConAir.
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