Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HOUSTON-Cadeco Industries, a Houston-based logistics firm, has moved into a 152,400-sf industrial space at 350-400 Portwall St. on Houston’s east side.

The 250,000-sf warehouse is five years old and sits on 14.3 acres in an area that is heavily populated with industrial buildings. The tenant’s broker, Doug Nicholson with the Houston office of Grubb & Ellis Co., tells GlobeSt.com that an option for the balance of the building sparked the decision to sign a medium-term lease. Bill Rudolf and Gray Gilbert, both with CB Richard Ellis Inc. in Houston, represented the building owner, Packwell Inc.

Located near Interstate 10 and McCarty Street, the building’s quoted rate is in the “high 20 cents per sf range.” Cadeco relocated from a smaller space in the same submarket.

The northeast submarket contains a 20.5-million-sf industrial inventory. According to Grubb & Ellis, vacancy is slightly more than 9% and rent averages 23 cents per sf.

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?

GlobeSt. NET LEASE Spring 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.