In a rare move, Brennan Investment Group has purchased a vacant office building in Greenspoint with plans to build a warehouse in its place. North Belt Office Center V, which is two-stories and 135,000 square feet was an office for a long-departed public company. The 16-year old building will be torn down to make way for the 157,300 square foot speculative distribution center that can accommodate one to four tenants. This warehouse will feature 32-foot clear height ceilings, 225 feet of building depth and an ESFR sprinkler system as well as 185 foot truck court estimated completion by third quarter of next year.
The Houston Business Journal reported that this conversion from office space into industrial real estate makes sense given the current market conditions where vacancy rates are high and rents are low while industrial real estate is booming all across Houston.
