January 8, 2018
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Chrisman Road Property LLC added to its Port of Houston holdings with two industrial acquisitions. The Houston buyer nabbed an 81,936-square-foot asset in Pasadena, TX from Bart Industries LP, and acquired a 40,000-square-foot asset in La Porte, TX from Bayou Properties Co. The sales price for both transactions were undisclosed.
Clay Pritchett with NAI Partners represented the buyer. “This private investor sold a multi-tenant industrial property in Q3 2017 in the north Houston market that had some age on it,” he said. Rather than repairing the property, Chrisman Road exchanged out of it, and “sought class B investment properties with upside potential for a long-term investment hold,” Pritchett said.
The Pasadena property is on 22 acres at 1605 Genoa Red Bluff Rd. John Ferruzzo and Chris Kugle of NAI Partners represented Bart Industries in the sale. In La Porte, seller Bayou Properties was self-represented. The asset is on 2.1 acres at 400-403 N. 10th St.