The single-tenant, triple net-leased warehouse sits on 5.1 acres at 1251 Clay Court in Battleground Business Park in southeast Houston. Joe Van Nice of North Palm Beach, FL handed off the deed to Meritex Enterprises Inc.
The asset came to market without a minimum asking price. Given the dynamics of the deal, it's a safe bet that the final price hovered $40 per sf, market sources say.
TCC principal Rusty Tamyln and vice president Ralph Tullier represented the seller. Meritex had in-house executive Dan Ward negotiating its terms.
Delta Chemical Services, a division of Delta Petroleum Co., moved into the park in 1998 and expanded in 2004 with the warehouse project. The firm packages, warehouses and ships products worldwide from its Deer Park facilities, where it mans more than 100 jobs.
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