HOUSTON-Following a three-year stint as owner,Mitsubishi Power Systems America Inc. sold its87,500-square-foot industrial manufacturing and training facilityto AEP LLC. The buyer paid $12.3 million for theasset, located in the far northeast submarket.
According to records from the Harris Central AppraisalDistrict, the facilities at 8146 Miller Rd. were completedin 2009 and are situated on 14.5 acres. And, according toJason Donald with Cushman & Wakefieldof Florida Inc., Mitsubishi Power Systems has been therefor three years.
"Mitsubishi typically doesn't own properties," explains Donald,who teamed with Cushman & Wakefield of Florida colleaguePatrick Berman to represent the buyer. Donald saysthe asset was widely marketed, and that in closing the transaction,AEP required flexibility in working with the tenant's needs.
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