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Colliers International announces the acquisition of 6.2 acres at South Live Oak Industrial Park in Tomball

Industrial Sale.

Colliers International is pleased to announce the acquisition of 6.2 acres of land including industrial warehouses totaling 41,076 square feet at 202 and 204 South Live Oak, Houston, Texas. The seller, South Live Oak Associates, L.P., was represented by Natalie Hurley of Register Real Estate Advisors Commercial. Tom Condon, Jr., senior vice president of Colliers International in The Woodlands, represented the buyer, Tomball Economic Development Corporation, in the transaction. Closing was coordinated by Jane Mathews with Stewart Title - Tomball.

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Tomball Economic Development Corporation plans to hold for investment purposes the two existing warehouses and create a mixed-use vision for the vacant land. One warehouse is currently NNN leased with plans to market the vacant second facility for lease in the near future.

The North Freeway/Tomball Parkway submarket, strategically located between Highway 249 and I-45 North, encompasses 30 million square feet of industrial and flex space.  The submarket, which is 86.2% occupied, is the second largest of the four submarkets located in Houston’s North industrial corridor. Annual absorption has increased by 35.7% and there are close to 1 million square feet under construction in the North Freeway/Tomball Parkway submarket.


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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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