X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HOUSTON-Houston-based One Stop Wash 2 Inc. recently purchased a 57,543-sf industrial building positioned on seven acres from Russell Projects Ltd., also of Houston. The building is located at 4311 Holmes Rd. just inside the 610 Loop near Cullen in the city’s near southeast submarket.

Michael J. Taetz of Colliers International’s Houston office represented buyer and seller in the transaction. Taetz tells GlobeSt.com that the buyer is in the process of buying two adjacent tracts and will likely redevelop the property into a mixed-use project. For now, however, the buyers plan to place their steel fabrication business in the building. Taetz says they fabricate metal buildings and own a retail center close to the property.

Russell Projects Ltd., headed by a Houston business owner, is the seller of record. Taetz says Russell bought the property in 1990 and operated a steel business in the location. Russell leased the structure to several tenants for the past three or four years before making the decision to sell. The sales price was not disclosed, but the asking price for the building was $795,000.

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 2020Event

This conference brings together the industry's most influential & 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.