Matthews brokers sale of industrial outdoor storage property in Texas

Matthews Real Estate Investment Services completed the sale of an industrial outdoor storage (IOS) property at 15221 Market St. in Channelview, Texas.

Matthews associate Murphy Sloan and senior associate Andrew Wiesemann represented the seller in the transaction.

Alpha & Omega Equipment sold the property through a sale-leaseback. The industrial site featured 56,248 square feet on a 4.81-acre lot. Matthews agents secured a 30-day due diligence, a five-day close and a closing price within 5% of asking.

The property was acquired by Triten, a national IOS investment fund. The company plans to hold the investment after a seven-year lease with two five-year options to follow was negotiated with the seller.