HOUSTON-Coffee manufacturer Cadeco Industries has spent $3.2million on a 170,000-sf industrial building that it's been leasingsince the late 1990s and took down the balance of an abutting251,000-sf facility leased in fall 2003 for its expansioncapabilities.
According to broker Doug Nicholson with Grubb & Ellis Co.,Cadeco bought 5518 Clinton Dr. when it came up for sale because itabuts its main coffee plant at 350-400 Portwall St., a 14.3-acreleased site now under its full control.
Nicholson, who represents Cadeco, tells GlobeSt.com that thebuyer met the full ask with the highest of two bids that came induring a four-month marketing period. Possible renovations areexpected, but no final decision has been made as yet.
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