HOUSTON—GlobeSt.com has exclusively learned that a major manufacturing plant, located in the shadow of downtown Houston, is relocating its vinyl flooring operations to a sister plant in Florence, AL, which opening the way for a potentially massive redevelopment project, according to sources. Boyd Commercial LLC/CORFAC International, a leading full-service commercial real estate provider serving the Houston metropolitan market, is listing for sale the 21-acre site less than a mile from Downtown Houston.
Texas Tile Manufacturing LLC, an affiliate of Tarkett USA Inc. plans to vacate its facility located at 1705 Oliver St. this summer. The company has occupied the site since 1932, constructing in excess of 750,000 square feet of manufacturing and warehouse space in the ensuing years.
The property is being marketed for sale by Conrad Bernard, principal with Boyd Commercial/CORFAC International as well as the firm's founder, Mike Boyd.
Bernard exclusively tells GlobeSt.com that “this is one of the larger redevelopment tracts, under one ownership, to come on the market in the Heights – Memorial area in some time. The plant site is adjacent to the south side of the Katy Freeway in an area which has been rapidly changing from industrial to retail/commercial and high density residential.”
He adds that “the property is being sold through a bidding process and that their goal is accept bids through the end of August this year.”
Recently, the former Grocers Supply distribution center on Studemont was sold for redevelopment into a 400-unit apartment and a retail center. Previously, industrial properties were replaced by both Kroger and Target. In addition to these redevelopment projects, there is a new apartment community next to the Tarkett site called Sawyer Heights Lofts. While sources involved in the sale could not tell GlobeSt.com how much the site would fetch, unidentified sources say it could be more than $45 million and Bernard tells GlobeSt.com that recent sales in the area have achieved prices in the $40 to $50 per square foot range.
According to sources, Tarkett's decision to consolidate their vinyl manufacturing into one facility is in line with their mission to create the ultimate flooring experience through innovative products and exceptional customer service, as well as enhance their customers' return on investment. “This move will improve delivery services by utilizing larger manufacturing and warehouse facilities in one central location,” says Boyd Commercial/CORFAC International.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
