Deals Close for 22,500-SF Industrial Building, 28.3-Acre Tract

HOUSTON-Locally based developer GSL Investments has sold its 22,500-sf industrial building at 1320 McGowan at Austin Street in Houston to Urban Meridian Group Inc.

The Houston office of Cushman & Wakefield of Texas Inc. handled both sides of the negotiations. B. Kelley Parker and John F. Littman represented the buyer. Littman tells GlobeSt.com that the buyers are Houston-based investors who were drawn to the acquisition because of the location and its match for their criteria for an investment property. Sandra F. Harris and Jeff G. Peden represented the seller GSL Investments.

In a Houston land sale, the joint venture Beltway 8 @ Lake Houston Pkwy purchased about 28.3 acres. The property is positioned at the juncture of Beltway 8 and Lake Houston. Steve C. Bryant of Bryant Commercial Real Estate represented the joint venture, which intends to build out the site with office/warehouse product. Keith K. Edwards of Houston-based Caldwell Watson Real Estate Group brokered the deal for the seller, a joint venture led by Victor Blanco.