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HOUSTON-Beating out multiple offers during a 45-day period, a Bakersfield, CA private investor has won the right to acquire a single-tenant, 67,000-sf industrial property for close to $3.75-million ask.

The 1970s-constructed structure, situated on one acre at 5330 Gulfton St., is filled by a tenant locked into a medium-term lease. “This was an investment sale,” says Ross Cannizaro, investment specialist with Marcus & Millichap Real Estate Investment Brokerage Co. in Houston.

Cannizaro represented the local seller of record, Gulfton Warehouse Ltd., as well as the buyer. “We listed this property for about a month and obtained a large number of offers,” Cannizaro says, telling GlobeSt.com that the buyer was chosen because of his due diligence and ability to close the deal fairly fast.

The seller, in the meantime, “was at a point where he wanted to take advantage of the market,” Cannizaro says. He adds the warehouse is the seller’s only asset in Houston, but he does have other commercial real estate in the US.

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