Project Overview

  • Opportunistic purchase of vacant 148,000 square foot building on 28 acres
  • Subdivided land selling 4, 2-acre frontage parcels for retail development
  • Raised warehouse roof and added crane capacity
  • Executed 10-year lease with national steel company, and sold.

Project Recap

This 144,000 square-foot former manufacturing facility sits on 28 acres at the corner of Aldine Westfield and Aldine Mail Route. Because the building had been vacant for several years, Levey was able to purchase it at an attractive price. Seeing that its low clear height posed a functional challenge, we raised the building’s roof, added crane capacity, then signed a ten-year lease with a national steel and wire company. We subdivided the 14-acre land parcel, selling the facility to a local buyer at an attractive cap-rate. The remaining acres were sold in multiple two-acre tracts to retail users and the hard-corner tract was sold to HEB Grocery.