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Todd Moore of Colliers sells 64,846 square foot single tenant industrial building in Houston

 

Colliers is pleased to announce the sale of 1314 West Sam Houston Parkway in Houston, Texas, a 64,846 square foot industrial building located along Beltway 8. Critical Rental Solutions occupies the building under a long-term Net Lease. Todd Moore of Colliers represented the seller in the transaction.

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The single tenant building features include elevated clear heights, heavy crane capacity, and recently underwent some significant upgrades, including a new roof and upgraded power. The location was a big driver on the interest level for this asset, with excellent visibility along Beltway 8 frontage just north of Interstate 10.

 

Critical Rental Solutions is a provider of oil-free air and temperature control equipment rentals. With products like oil-free compressors, chillers, cooling towers and heat exchangers they deliver specialized equipment to their clients in helping their businesses run more efficiently.

 

"We are pleased to have generated multiple offers on the property which gave the seller the ability to select a buyer based on a combination of price, terms and ability to close," said Principal, Todd Moore of Colliers. "We ultimately closed the transaction with a 1031 Exchange buyer who paid all cash at 97% of the asking price. They were the ideal buyer, because they moved quickly with added certainty of execution, which all sellers desire in a transaction. It was a great transaction for all parties. The seller hit their target price, and the buyer secured a very well-located asset with a long-term lease in place." 

 

The property is located in Houston's Northwest Inner Loop industrial submarket, the second largest submarket containing over 60 million square feet of industrial and flex space. The submarket is 92% occupied and has an average quoted lease rate is $7.38/SF.

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Todd Moore

Principal | Houston

Houston

Todd Moore joined Colliers International | Houston in November 2020 as a Principal where he focuses on investment sales of industrial, office, retail and sale leaseback transactions.

Prior to joining Colliers, Mr. Moore served as Director at Stan Johnson Company (SJC) where he spent nine years representing buyers and sellers of net leased assets throughout the United States. During his time with SJC, he transacted close to half a billion in investment sales and was recognized with the Sales Excellence Award and as a Top 10 Producer. He brings more than 12 years of commercial real estate experience to the Colliers team and has a unique ability to effectively analyze and transact leased investment property. 

Mr. Moore’s primary focus is on developers and investor clients in the industrial, office and retail market sectors throughout the United States. His commitment to client services promotes the development of strong relationships with top developers, Real Estate Investment Trusts (REIT) and private investors across the country.

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