X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HOUSTON-The Crow Family Holding Industrial Texas LP has sold an 81,282-sf net leased industrial warehouse in the Santa Fe Industrial Park in southeast Houston. An entity of Austin-based Capital Commercial Investments is the buyer.

Rusty Tamlyn of Trammell Crow Co., who represented the seller, tells GlobeSt.com the property sold for under $2 million. The Crow Family Trust developed the property at 6831 Silsbee in 1962 for Continental Can, which has four years left on its current pact. John Ferruzzo of NAI Partners Commercial represented the buyer of record, CCD-Portfolio I Ltd.

Ferruzzo says Capital Commercial now owns 28 office and industrial buildings in Houston, Clear Lake, the Woodlands and Austin. The latest buy is a freestanding masonry warehouse that has been bought strictly for investment purposes. Continental Can is a part of Irving, TX-based Consolidated Container, which manufactures plastic bottles, containers, oil and medical supplies for clients such as Proctor & Gamble.

Ferruzzo also negotiated an unrelated lease on behalf of Houston-based Oriental rug distributor, Miresco Investments. The company will move its headquarters into 72,240 sf at 8648 Glenmont, relocating from a N. Shepherd building. Miresco distributes rugs to dealers, large department stores and other furniture stores.

GroceryWorks.com was the former tenant and had made numerous upgrades to the structure. EastGroup Properties of Mississippi is the owner of the year-old, tilt-wall building. Mike Annino of Insite Realty acted on EastGroup’s behalf in the lease negotiations.

The brisk activity in the southwest industrial market of late, says Ferruzzo, is a strong indication that it’s expanding beyond its prior electronics-dominant tenant base. He cites the recent 70,000-sf signing of Blackmon Mooring at Vantage Co.’s Beltway 8 Business Park as further evidence of the submarket’s changing persona.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Awards 2020Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.