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HOUSTON-Carson Cos. added another asset to its growing area portfolio, taking ownership of a 148,850-sf distribution building. The company acquired the 10-year-old asset from a Louisiana partnership through an off-market transaction.

Though price was kept confidential, area sources note that similar buildings in the area have sold for between $50 and $60 per sf. The property, situated on 9.15 acres at 6300 West by Northwest Blvd. was 84% occupied.

“There’s one remaining vacancy in the property, and Carson will invest some capital in building out the remainder as office space,” says David M. Boyd, principal with Boyd Commercial LLC in Houston. Boyd, who represented seller MBW Houston LP says the new owner will also extend the driveway and build a parking lot for the building.

He tells GlobeSt.com that the seller had the asset for about four years, and was ready to market it, when Carson made an offer that the partnership accepted. He says that the property was MBW’s only area holding.

The buyer, meanwhile, ends up with an asset with a relatively low lease roll in the near term. “The main tenant is Bosworth Papers, and it occupies over half the building,” Boyd notes. “They’re on a long-term lease that was extended prior to this building going under contract. The property is fairly well stabilized.”

In addition to Bosworth Papers, tenants include Patterson Logistics Services Inc. and Home Depot Installation Services. Carson Cos. will oversee property management, while Boyd Commercial will find a tenant for the remaining space.

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