Neighborly 108,675-SF Buy Includes Partial Leaseback

HOUSTON-Houston-based Omex Engineering & Construction Inc. has sold its 108,675-sf warehouse-distribution center at 1400 Brittmoore in west Houston to Laswerweld Inc.

Frank Onorato and Doug Nicholson, both of Grubb & Ellis Co.’s Houston office, represented Omex in the deal. Onorato tells GlobeSt.com that Omex is transferring its remanufacturing of small refineries to China and no longer needs the facility. The property consists of a crane-served building used to recondition the refineries and a 38,000-sf office building.

Onorato would not comment on the selling price, but GlobeSt.com has learned that the advertised asking price for the property was $3.5 million. He says the buyer, Laserweld, has been Omex’s next-door neighbor at 13614 Brittmore Rd. for some years. The deal includes a 16,000-sf office space leaseback. The buildings on the property are more than 30 years old. Laserweld, a Houston-based company, manufactures metal cages that protect forklift drivers.

Onorato says the Omex sale is indicative of the active industrial market in the region. He believes absorption in the industrial market will stay steady over the next 12 months, but will likely not exceed last year’s rates.

In an unrelated transaction, Nicholson represented Occucenters I LP in its 6,556-sf lease for industrial space at 8799 N. Loop East. Peggy Rougeou with Tarantino Properties acted for the building owner, Ohainui Hill Apartments Ltd.