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Colliers sells ±1.748 acres in Tomball Business and Technology Park

Colliers is pleased to announce the sale of ±1.7484 acres (Lot 4-1) in Tomball Business and Technology Park located in Tomball, Texas. The buyer, West Woodland Business Park, LLC, was represented by Rob Banzhaf of Newcor Development, LLC. Tom Condon, Jr., principal of Colliers in The Woodlands, represented the seller, Tomball Economic Development Corp., in the transaction.

On behalf of the buyer, Newcor Development is working on plans for an office flex or office warehouse spec facility for multi-tenant occupancy.

“This is another example of the Tomball Business & Technology Park‘s standing as a premier destination for office and warehouse utilization. The demand for development in the Park continues to be very strong,” said Kelly Violette, Tomball Economic Development Corporation Executive Director. “We look forward to Newcor developing a first-class facility that attracts business to Tomball.”

Tomball Business and Technology Park is a ±100 acre master planned and deed restricted business park situated just east of the Tomball Tollway along Holderrieth Road and Hufsmith Kohrville Road. The industrial park features light industrial zoning, is fully served with all utilities and has easy access to SH 249, FM 2920 and the Grand Parkway. With this sale, the Park is 76.5 percent sold and the remaining 18.3 acres are under contract and expected to close early in the fourth quarter of 2022.

The property is located in Houston's North Freeway/Tomball Parkway industrial submarket. The submarket contains 39.4 million square feet of industrial space, which is currently 95.7 percent occupied. The average asking market rental rate is $9.17 per square foot and there is 1.7million square feet of industrial space currently under construction in the 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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