The 45-year-old Reed Instrument Co., the new owner of 10707 Haddington Dr., is planning to make some immediate upgrades and move in within two months, says its broker, Walker Barnett, associate with Colliers Texas in Houston. Teaming with Colliers Texas co-chairman and principal Robert S. Parsley to find the expansion location, Barnett says the search spanned the entire northwest submarket. "It was a fairly hard product to find. We did a fairly detailed search of the northwest industrial market," he tells GlobeSt.com, "and this made the most sense." The building is located about two miles west of Reed's long-time, owned address at 1525 Blalock Rd.
The seller's broker, Griff Bandy, an associate with NAI Houston, says the building size drove at least a dozen tours and resulted in two solid offers, with the winner not being the highest "but the best" contract to surface during a two-month marketing. "There are lots of other industrial buildings out there, but nothing of this size," he says.
The 33-year-old office/warehouse was last renovated in 1997. The seven-acre holding has 34,680 sf of office area, the balance in warehouse space and 2.1 acres of undeveloped land. Bandy partnered with NAI Houston principals John Ferruzzo and Dan Boyles Jr. to represent the seller, Invensys Group of London. The seller used the location at least a decade to manufacture and distribute controls for the oil and gas industry.
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