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LA PORTE, TX-A group of foreign investors has acquired a 41,851-sf warehouse with a single tenant in La Porte, a coastal city of about 34,000 residents situated 26 miles east of Houston’s CBD.

The seller of record of 703 S. 16th St. is Floyd Interests-La Porte LLC and the buyer of record is La Porte LLC. B. Kelley Parker and John Littman, both of the Houston office of Cushman & Wakefield of Texas Inc., represented the buyer in the negotiations. The Cushman & Wakefield Houston team of James E. Foreman, Beau Kaleel and Sandra F. Harris represented the seller.

Parker wouldn’t disclose the selling price, but did tell GlobeSt.com that seller was seeking $950,000 when the building came to market. He says his clients intend to use the warehouse, situated on three acres, as a long-term investment. The property’s sole tenant is there for the long term, according to Parker.

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