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HOUSTON-A partnership of principals from NAI Partners Commercial in Houston have acquired a two-building, 28,000-sf industrial holding at 198 Hirsch Rd. from Kellogg, Brown & Root, which had labeled the property as surplus real estate.

JSRW Properties’ acquisition is situated east of the downtown. John Ferruzzo with NAI Partners Commercial tells GlobeSt.com that the buyers were turning around 1031 Exchange proceeds from this year’s sale of Coastal Foods buildings in the Interbelt North Business Park. The Hirsch Road buildings, roughly equal in size, were listed for $620,000, but the selling price was substantially less, according to Ferruzzo.

The new owners intend to extensively remodel the service center buildings, which have dock-high capabilities. Ferruzzo says the plans are still on the drawing boards, but the capital outlay will be significant. Mark Nicholas of Dallas-based Staubach Co.’s Houston office the seller in the transaction. Ferruzzo holds the leasing assignment for the newly acquired asset.

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