(To read more on the industrial market, click here.)
HOUSTON-A collection of New York-based Fortune 100companies has sold two flex buildings, totaling 155,933 sf, to aLos Angeles investment group. The buildings, situated about sevenmiles apart, were offered as a package deal because of their debtstructure.
"It was two properties that were cross-collateralized," explainsRob Chandler, senior associate with NAI Houston. "There was a debtcomponent applied to both buildings, the same mortgage, but aconduit loan. They had to be purchased together." The just-soldpackage consists of the 70,359-sf Brookhollow West Service Centerat 10050 W. Gulf Bank Rd. and 80,576-sf Northwest Tech Center at5201 Lanfield Rd.
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