Cushman & Wakefield National Industrial
9500 W. Bryn Mawr Avenue
Rosemont, IL 60018
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Release Date: Tuesday, January 27, 2015
Media Contact: Evelyn Weiss Francisco (201) 796-7788
Asset's Rail-proximate Neighborhood Positions it for Redevelopment Play
HOUSTON, Texas, Jan. 27, 2015 – Commercial real estate services firm Cushman & Wakefield has arranged the sale of a 58,000-square-foot industrial property at 4909 Fulton Street in Houston. According to the company's Will Condrey, the property's location – in a commuter rail-proximate neighborhood home to multiple adaptive reuse projects – positions it as a prime candidate for redevelopment.
Based in Cushman & Wakefield's Houston office, Condrey represented seller F&J Real Estate Investments, Ltd. with team members David Cook, Jeff Peden and Scott Miller. Russell Hernandez of Hernandez Properties served as broker for the buyer, 4909 Fulton, Ltd.
"Mirroring the growing trend toward transit-oriented development nationwide, we are seeing growing momentum in the revitalization of areas along Houston's commuter rail lines," Condrey notes. "The Fulton Street corridor seems to be moving away from its industrial roots, with several properties already repurposed for residential. Further south, we are seeing a number of industrial-to-retail adaptive reuse projects. In the case of 4909 Fulton, the buyer took advantage of a great opportunity to secure a prime site for a future development located along the City's newly built North Line Commuter Rail."
Cushman & Wakefield's industrial brokerage platform provides global resources and local expertise for tenant and landlord representation, disposition and acquisition services, transaction management, and industrial consulting including labor and demographic analysis. In the U.S. alone in 2013, this group completed nearly 6,700 industrial real estate transactions (excluding Capital Markets transactions) totaling 238.74 million square feet. The aggregate value of these transactions was greater than $7.34 billion.
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