CORFAC News

Houston, TX – Boyd Commercial LLC/CORFAC International, a leading full-service commercial real estate provider serving the Houston metropolitan market, announced today that it has closed the sale of the 21-acre Houston property to Summer Street Retail LP, a business entity backed by Gulf Coast Commercial Group.  
 
The Houston Business Journal reported that the property sold for $40 million.
 
Previously owned by Texas Tile Manufacturing, LLC, an affiliate of Tarkett USA Inc., the property was marketed for sale by Conrad Bernard, SIOR and Principal with Boyd Commercial/CORFAC International as well as the firm’s founder, J. Michael Boyd, SIOR, CRE. They were the only brokers involved in the sale transaction.
 
Tarkett ceased manufacturing at its facility located at 1705 Oliver Street in Houston last fall and used portions of the property to warehouse product as recently as June. The French-owned company had occupied the site since 1932, constructing in excess of 750,000 square feet of manufacturing and warehouse space in the ensuing years.
 
Located just south of Interstate 10 and in close proximity to downtown Houston, the area is a rapidly evolving district transitioning away from industrial purposes.