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Colliers sells ±4.18 acres along Beltway 8 in South Houston

Colliers is pleased to announce the sale of ±4.18 acres located between Beltway 8 and Fellows Road in Houston, Texas. The buyer, Fellow Houston Investment, LP, was represented by Travis Land, AJ Williams and Alisha Renshaw of NAI Partners. Tom Condon, Jr. of Colliers represented the seller, David Christian, in the transaction.

The subject property is situated along Beltway 8 and Fellows Road just west of SH 288. The unrestricted property is outside the city limits of Houston and Pearland. On behalf of Fellow Houston Investment, Adkisson Group Development plans to construct a ±61,700 square foot rear-load distribution building with an estimated completion date of March 2023.

The property is located in Houston's South Hwy 35 industrial submarket. The submarket contains 43.7 million square feet of industrial space which is currently 97.2 percent occupied. The average asking market rental rate is $7.76 per square foot and there is 91,500 square feet of industrial space currently under construction in the submarket.

 

Beltway 8_Fellows Rd_PR


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Tom Condon Jr.

Principal

Houston - The Woodlands

With more than 30 years of real estate experience, Mr. Condon joined Colliers brokerage team in 2013.  Mr. Condon is known for providing his clients a distinct advantage in the successful resolution of the challenges faced in today’s real estate market.

Immediately prior to joining Colliers, Mr. Condon was with The Betz Companies for 19 years during which he specialized in investment properties, land transactions (including commercial industrial and residential tracts), and the sale of commercial (office and industrial) buildings. Mr. Condon spent the first nine years of his business career with First City Bancorporation in multiple assignments involving operations, leasing, commercial and real estate lending, loan work-outs and ultimately managing and marketing a diversified portfolio of foreclosed properties. Mr. Condon also spent three and a half years with Banc One’s Bonnet Resources Corporation expanding his expertise in the marketing and disposition of an even wider array of assets in Texas and other states.

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