Colliers facilitates sale of two industrial buildings in Conroe, Texas

HOUSTON - Rezul -- Colliers is pleased to announce the sale of two industrial buildings totaling 15,000 square feet located at 12062 and 12068 FM 3083 in Conroe, Texas. The buyer, Timberline Environmental Services, was represented by Joel English and Flavio Beato of Texas CRES. The seller, FDJ Holdings, was represented by Michelle Soderberg (https://www.colliers.com/en/experts/michelle-so...) and Tom Condon, Jr. (https://www.colliers.com/en/experts/tom-condon-jr) of Colliers. The closing was coordinated by Brandi Jones with Stewart Title of Montgomery County.

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"These buildings offered a rare combination of flexibility and location, meeting the strong demand for industrial space in the Conroe area," said Michelle Soderberg of Colliers. "We are thrilled to have achieved a successful outcome for our client."

The property is located in Houston's The Woodlands/Conroe industrial submarket, which totals 29.5 million square feet of inventory that is currently 96.1% occupied. Net absorption during the quarter was 1.1 million square feet while leasing activity totaled 1.4 million square feet. BroadRange Logistics represented the bulk of third-quarter activity, leasing and moving into 1.2 million square feet in NorthPort Logistics Center in Conroe. The submarket has 11 buildings with 327,301 square feet of industrial space under construction, with all properties quoting an average asking rental rate of $13.48.