O'Drill MCM Inc. has paid less than the $3.2 million list price for 5055 Cranswick Rd., according to Chris Caudill, a senior associate with NAI Houston. The Harris County Appraisal District taxes the 1970s-era building on a $2.2-million assessment.
Caudill, teaming with Joel Michael, represented O'Drill MCM in the acquisition. Seller 3P USA Inc. had Bill Rudolph and Jim Stark with CB Richard Ellis Inc.'s local office steering its negotiations.
O'Drill MCM plans to expand the operation rather than sell and relocate from a 45,000-sf industrial building at 11625 Fairmont St. in the southwest sector, Caudill tells GlobeSt.com. "O'Drill wanted to buy another facility rather than lease," he says, adding the company looked for two months before choosing the Cranswick Road building. "With the acreage, there's plenty of room to expand for future growth. And, O'Drill has a lot of customers in the northwest part of Houston."
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