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HOUSTON-General Stevedores has expanded its operations here by moving into a 24,000-sf building that sits next to its existing 40,000-sf facility. Located at 630 McFarland Street, it, and the firm’s existing building, is leased from Marshall Hatch of Seattle. Financial terms of the transaction were not disclosed, however asking rates for similar properties range between 26 and 28 cents per sf triple net. John Nicholson with the Houston office of Grubb & Ellis Co. represented both sides in the lease negotiations. Nicholson tells GlobeSt.com that the firm has taken the smaller building on a short-term lease.

General Stevedores, founded here in 1945, specializes in handling and warehousing waterborne, rail and truck cargos of iron and steel originating from Pittsburgh, Chicago and St. Louis.

Nicholson, who leases 11 metal buildings totaling just under 200,000 sf from property owner Hatch, says occupancy is about 60%.

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