Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HOUSTON-Locally based Royal White Cement Co. has acquired a 100,000-sf building that it’s been leasing for the last nine months after losing another rented site near the Port of Houston to a fire.

The firm moved into 8316 E. Freeway shortly after last summer’s fire at 1919 Goodyear Dr. At that time, the cement supplier was toying with the idea of buying the East Freeway building, CA Rousser of the Rousser Co. in Houston tells GlobeSt.com. After leasing the three-acre asset for a few months, the company’s execs decided to exercise the purchase option riding with the lease. They concluded the interim site–a 38-year-old, crane-served metal warehouse–had a great location, good setup and came at the right price with the right terms.

Rousser says about 30,000 sf will be leased to a third party. It should bring in a rent of about 35 cents per sf, he predicts. The new owner imports white cement from countries such as Egypt and Turkey.

Doyle Toups with the Houston office of Grubb & Ellis Co. represented the seller, Houston-based Western Financial Services Inc. He says the building was marketed at nearly $2 million. Although he can’t talk about the selling price, he did say the final number was close to the ask. Harris County Appraisal District assessed the holding at $689,700 for the 2002 tax rolls. Toups says the seller bought the building about a year ago and immediately put it on the market for sale or lease.

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 Fall 2021Event

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

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.