The owners of Glazier Foods Company, a Houston based foodservice distributor, have sold their 286,000 square foot Class A headquarters and distribution facility in a triple-net sale/leaseback deal with GSL Welcome Group, LLC of Houston, Texas, which includes a $14 million expansion. GSL Fund 21 GF Sub E, LLC, closed on the property on June 16, 2008.
Glazier Foods Company, founded in Houston in 1936, is a family-owned leader in the food industry. The company constructed its state-of-the art headquarters and distribution facility in 2005 and plans a 160,000 square foot expansion of the freezer/dry storage areas that will bring the total square footage of the facility to 446,000 square feet.
“GSL is excited to join with Glazier Foods Company in the expansion of an already modern facility.” said GSL President Welcome Wilson, Jr. “GSL’s acquisition portfolio is comprised of companies that want to increase returns, manage facility risk and create capital to invest in their businesses by having GSL Welcome purchase their existing facilities and lease them back to the company. This type of arrangement can boost the company bottom line.”
GE Capital provided financing for the acquisition and funding for the $14,000,000 expansion of the facility. Construction has already begun and is expected to be completed within 12 months.
In the 3rd quarter of 2007, Glazier Foods Company selected Yancey-Hausman Commercial Real Estate Services to market the sale of the owner’s 33 ± acre distribution facility that is located at 11303 Antoine Drive, just north of the North Sam Houston Parkway in Houston, Texas.
“Jackie Ritchie and I conducted an extensive national bid process resulting in numerous industrial REITS making offers on the property.” said Yancey-Hausman Senior Vice President Pat Pollan. “This was a great opportunity for GSL to acquire a high quality asset in an excellent location with long term, stable cash flow and excellent prospects for long-term value appreciation.”
Yancey-Hausman is a full-service commercial real estate company providing services for office, industrial, retail and land projects. The company’s spectrum of real estate services includes project leasing, tenant representation, property management, development services, property acquisitions, investment sales and research. Whether working with institutions, corporate users or individual investors, Y-H tailors its comprehensive services to suit and enhance each specific project. Established in 1971, the firm currently has more than 60 employees in offices in Houston and Austin. For further information on Yancey-Hausman, phone 713-462-8802 (Houston) or 512-480-9800 (Austin) or visit www.yancey-hausman.com on the Web.
GSL Welcome Group is a Houston-based real estate development company which owns over 75 single tenant facilities in metropolitan Houston. GSL not only acquires properties such as Glazier, but also develops single tenant build-to-suit facilities, such as medical laboratories, food distribution centers, manufacturing facilities, office and warehouse facilities. Please visit www.gslwelcome.com for more information.
Thursday, October 29, 2009
701 N. Post Oak Property Management Contract Awarded to Yancey-Hausman
Yancey-Hausman Interests, Inc., a major Houston-based commercial real estate services firm, was recently awarded the property management contract of 701 N. Post Oak, a 126,000 square foot high-rise office building near I-10 and Loop 610.
This is the third property management assignment that one of the investors from California has trusted to Yancey-Hausman. Property management services include professional on-site management, accounting, budgeting and cost analysis.
Yancey-Hausman Chief Executive Officer Arnie Altsuler said, “We are very proud of our property management division and Vice President Rhoda Fertig for procuring this assignment.”
About Yancey-Hausman Interests, Inc.
Yancey-Hausman is a full-service commercial real estate company providing services for office, industrial, retail and land projects. The company’s spectrum of real estate services includes project leasing, tenant representation, property management, development services, property acquisitions, investment sales and research. Whether working with institutions, corporate users or individual investors, Y-H tailors its comprehensive services to suit and enhance each specific project. Established in 1971, the firm currently has more than 60 employees in offices in Houston and Austin. For further information on Yancey-Hausman, phone 713-462-8802 (Houston) or 512-480-9800 (Austin) or visit www.yancey-hausman.com on the Web.
This is the third property management assignment that one of the investors from California has trusted to Yancey-Hausman. Property management services include professional on-site management, accounting, budgeting and cost analysis.
Yancey-Hausman Chief Executive Officer Arnie Altsuler said, “We are very proud of our property management division and Vice President Rhoda Fertig for procuring this assignment.”
About Yancey-Hausman Interests, Inc.
Yancey-Hausman is a full-service commercial real estate company providing services for office, industrial, retail and land projects. The company’s spectrum of real estate services includes project leasing, tenant representation, property management, development services, property acquisitions, investment sales and research. Whether working with institutions, corporate users or individual investors, Y-H tailors its comprehensive services to suit and enhance each specific project. Established in 1971, the firm currently has more than 60 employees in offices in Houston and Austin. For further information on Yancey-Hausman, phone 713-462-8802 (Houston) or 512-480-9800 (Austin) or visit www.yancey-hausman.com on the Web.
Friday, April 11, 2008
CITY SIGNS A 7,765 SF LEASE FOR SPACE TO OBTAIN REVENUE THROUGH SALE OF QUALITY, USED BOOKS
Austin, TX (April 11, 2008) –In order to restore the much missed Friends of the Library Bookstore for the use of the community, the City of Austin signed a five-year lease for a 7,675-sf book store. Much like the previous Monster Book Store recently displaced by construction of the new Twin Oaks Branch Library in South Austin, this store will offer donated and quality, used library books for sale, with the proceeds going to the city for support of the municipal library system .
The as-yet un-named store is at 5335 Burnet Rd. in the central part of Austin, and is scheduled for a mid-summer 2008 opening. The store will also offer live music, coffee and a children's section. The space is currently undergoing renovations under the direction of Amy Crail, construction manager with Yancey-Hausman's Austin office.
Laura Coffin, retail associate with Yancey-Hausman's Austin office said the store will be similar to Half-Price Books and other used book stores, but the extra attraction for customers is that the money they spend on books will go back to their community library system.
"This will be the Library Department’s prototype bookstore," said Coffin, who structured the deal between the city and shopping center owner Pajo Properties of Austin. "They'll see how this one goes. If it proves successful, they will model the Friends of the Library bookstore planned for inclusion in their new central library after this one, I’m sure."
Coffin, who worked with Yancey-Hausman Retail Associate Shannon Albright-Diaz on the lease, added that the library store concept fits perfectly into the city's "Keep Austin Weird" motto. "This shows that Austin is a unique place that has out-of-the-box ideas to keep things running smoothly," she added.
Yancey-Hausman is a full-service commercial real estate company providing services for office, industrial, retail and land projects. The company’s spectrum of real estate services includes project leasing, tenant representation, property management, development services, property acquisitions, investment sales and research. Established in 1971, the firm currently has more than 60 employees in offices in Houston and Austin. For further information on Yancey-Hausman, phone 713-462-8802 (Houston) or 512-480-9800 (Austin) or visit www.yancey-hausman.com on the Web.
The as-yet un-named store is at 5335 Burnet Rd. in the central part of Austin, and is scheduled for a mid-summer 2008 opening. The store will also offer live music, coffee and a children's section. The space is currently undergoing renovations under the direction of Amy Crail, construction manager with Yancey-Hausman's Austin office.
Laura Coffin, retail associate with Yancey-Hausman's Austin office said the store will be similar to Half-Price Books and other used book stores, but the extra attraction for customers is that the money they spend on books will go back to their community library system.
"This will be the Library Department’s prototype bookstore," said Coffin, who structured the deal between the city and shopping center owner Pajo Properties of Austin. "They'll see how this one goes. If it proves successful, they will model the Friends of the Library bookstore planned for inclusion in their new central library after this one, I’m sure."
Coffin, who worked with Yancey-Hausman Retail Associate Shannon Albright-Diaz on the lease, added that the library store concept fits perfectly into the city's "Keep Austin Weird" motto. "This shows that Austin is a unique place that has out-of-the-box ideas to keep things running smoothly," she added.
Yancey-Hausman is a full-service commercial real estate company providing services for office, industrial, retail and land projects. The company’s spectrum of real estate services includes project leasing, tenant representation, property management, development services, property acquisitions, investment sales and research. Established in 1971, the firm currently has more than 60 employees in offices in Houston and Austin. For further information on Yancey-Hausman, phone 713-462-8802 (Houston) or 512-480-9800 (Austin) or visit www.yancey-hausman.com on the Web.
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