Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HOUSTON-Following a capital investment and occupancy improvement, Nelson Duffie Interests Inc. has sold a 503,500-sf industrial portfolio to Jaymar Investments. Sources familiar with the market say the local seller most likely got $20 million to $25 million for the seven-property portfolio.

John C. Duffie, a partner with Nelson Duffie Interests, says portfolio consists of 21 single-tenant manufacturing buildings and small-tenant structures of metal and brick with grade-level doors. The buildings’ average age is 10 years old. Duffie says occupancy was 82% when he and partner Richard R. Nelson III acquired the 21-building portfolio in early 2006.

“We’d bought it in bankruptcy court and nothing had been done TI-wise,” Duffie says. “There were 15 vacant spaces that had no power and were filled with cobwebs and badly needed painting.” He tells GlobeSt.com that Nelson Duffie invested $300,000 to $400,000 on capital improvements and ended up with a portfolio-wide occupancy of 95%.

“We were motivated to sell because of an unsolicited offer,” Duffie says. “Then we went through the process of listing them and putting them on the market.” Tom Lynch, senior vice president in Houston for CB Richard Ellis, represented Nelson Duffie while Houston-based Jaymar was self-represented.

“This was two months on the market before striking the deal,” Duffie says. “The deal took longer to close due to the credit crunch.” Financing was provided by GE Real Estate of Norwalk, CT.

The portfolio is made up of a 97,000-sf building at 6125 W. Sam Houston Tollway; 99,500 sf at 6830 N. Eldridge Rd.; and 155,500 sf at 8807-15 Emmott Rd. Also in the collection is a 20,000-sf structure at 9230 Keough; a 55,000-sf pair at 6450 and 6460 Langfield Rd.; 33,500 sf at 16623 Aldine Westfield Rd. and 43,000 sf at 9401 Winkler Dr./5900 and 6000 Berry Brook Dr. Nelson Duffie Interests will continue to manage and lease the portfolio.

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

*May exclude premium content
Already have an account?


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 © 2021 ALM Media Properties, LLC. All Rights Reserved.