$650,000 Shelled Out for NW San Antonio Site

SAN ANTONIO-Sunbelt Mill Supply Inc. has bought a 30,175-sf industrial building in the northwest submarket of San Antonio. The company, which sells industrial equipment to construction firms, will occupy 22,000 sf while an existing tenant will remain in the rest.

Sunbelt bought the building at 7715 Grissom Rd. from James Keller for $650,000. Joe Carroll and Rick Stagers of the San Antonio office of Grubb & Ellis Co. handled the transaction for Keller.

Stagers says Keller had operated a furniture business in the building before selling the business to Global Southwest Inc. Global moved earlier this year to a new building. The marketing of the building was delayed because Global was late moving into the new structure because of construction delays. Stagers says they couldn’t market it as an investment property because the tenant was moving out and they couldn’t market it as a user property because it had a tenant.

As it turned out, Keller and Sunbelt’s top executive worked out most of the deal themselves, Stagers says. Sunbelt moves from space at 6848 Fairgrounds Parkway in San Antonio.