Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HOUSTON-Hydraulics of Texas’ CEO has formed a limited liability company to buy a 57,910-sf warehouse at 6800 Northwinds Dr. and then lease it back to the Houston operation, GlobeSt.com is told.

Buckley Equipment LLC is the buyer of record. The northwest submarket building will be used for the firm’s corporate headquarters, says John Ferruzzo of the Houston office of NAI Partners. He represented the buyer in the deal. He tells GlobeSt.com that seller, NCI Building Systems Inc., got close to the $1.7-million asking price for the 18-year-old structure. With the deal done, the buyer will be moving from a leased facility along Brittmoore Road.

NCI had used the warehouse as overflow space for its pre-engineered metal building business. Bill Rudolf of the Houston office of CB Richard Ellis Inc. represented the seller of the class B asset.

Ferruzzo says small businesses, particularly industrial manufacturing users, are clamoring to buy buildings, but the slowed economy is making buyers wary of purchasing class A properties. The class B velocity is outpacing class A at the closing table, he says. “People are skittish about buying top of the line,” he explains.

What is selling faster than hot cakes right now, Ferruzzo confides, are crane-served buildings of any class. If a crane-served building is located in the northwest submarket, “it’s as good as gold,” he adds.

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
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


GlobeSt Net Lease Spring 2022Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


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
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.