HOUSTON - Close to a year after Forum Energy Technologies leased the entire 253,838-sf Guhn Road Distribution Center, McShane Development Co. and MetLife Real Estate Investments have sold the industrial property. The buyer was a commingled fund advised by Clarion Partners.
The sales price was not available for the asset at 6535 Guhn Rd., though the original asking price was $18.5 million.
McShane and MetLife broke ground on the industrial property in 2008 as a speculative project. The distribution center remained vacant until September 2011, as the ownership wanted to reserve it for a single tenant. Forum Energy Technologies, which serves the energy industry's operations, signed a ten-year lease for the property.
Read more at GlobeSt.com.
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