Global Manufacturing Company Buys Houston Warehouse
The 214,300 square foot warehouse was sold for $27.25 million. The unnamed international manufacturing company will be looking to make a number of capital improvements over the next couple of months. Mike Androwich of Lee & Associates represented the seller, Clay Development. He said the new buyers “were targeting either a larger facility they could grow into or a building that was expandable”. He added that they were drawn to the facility because it was relatively new, having been built in 2020, and it had an additional 16.28 acres in case they needed to grow.
Lee & Associates also represented the buyer, with Mason Alsbrooks and Mike Spears leading the effort for Lee. Clay Development, the owner of the facility is a Houston based development and construction company. The property is located at Lake Houston Parkway and the Sam Houston Tollway.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.