X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HOUSTON-Smith-Glover Investments Inc., the real estate arm of Houston-based Discovery Resource, has purchased a 17,000-sf building for roughly $660,000 from the lender.

The 1980s-era manufacturing and warehouse building at 1511 W. 34th St. was sold by the First Bank of Central Texas of Temple, according to Chris Kugle, an associate with NAI Houston. He says the asset had been marketed for $725,000.

Kugle says the property was bought to provide Discovery Resources LLC, a litigation support company, with the room they needed to expand. “They’d simply outgrown their current facility on 29th street,” says Kugle, who represented the buyer in the transaction. Debbie Richardson of Michael Berry Properties in Houston negotiated for the seller.

Kugle tells GlobeSt.com that Discovery Resources owned its former facility, 4,000 sf at 718 W. 29th St. Now, it’s up for lease.

Because the space required no renovation, Kugle says the buyers took immediate possession. “It was a ready move-in,” he says. “There was lots of space along with a nice, light area and a warehouse area. It worked perfectly for these guys.”

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

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 © 2020 ALM Media Properties, LLC. All Rights Reserved.