Home Depot Subsidiary Firms Up Buyout, Leases 66,752-SF In West Port

HOUSTON-Maintenance Warehouse, a San Diego-based subsidiary of Home Depot Inc., has come to town, bought out NEthing Supply, and now is leasing 66,752 sf in the West Port Industrial Park No. One at 7108 Old Katy Rd. to house the operation.

While parent Home Depot caters principally to the do-it-yourself homeowner, Maintenance Warehouse sells supplies needed for construction and maintenance of multifamily buildings. The company also has bought Nething Supplies businesses in Dallas and San Antonio for an instant presence in the Texas market.

The lease rate has not been disclosed, but the going rate in West Port is $4.20 to $4.50 per sf annually, which puts the Maintenance Warehouse lease in the neighborhood of $280,000 to $300,000.

Home Depot Inc. owns and operates 913 do-it-yourself warehouse retail stores offering building materials, home improvement products and related furnishings. The opening and acquisition of new stores like the Maintenance Warehouse in Houston, and increased comparable store sales are reflected in Home Depot’s rising revenues. For the 39 weeks ending Oct. 29, the company has reported a 21% hike in net sales to $35.28 billion while net income has risen 22% to $2.12 billion.