November 22, 2024 – Russell Verzino and Justin Spillane of Horvath & Tremblay has successfully completed the sale of a Lufkin Industries in Missouri City, Texas. Horvath & Tremblay represented the buyer to complete the transaction at a sale price of $6,578,947.
Lufkin Industries is located at 811 Willow Oak Drive in Missouri City, Texas. Lufkin Industries occupies a 39,120 square foot building positioned on a 6.21-acre corner parcel of land. Lufkin Industries executed a new 20-year Absolute NNN Lease with four (4), 5-year renewal options. The lease calls for attractive 3% annual increases in rent throughout the primary term and the renewal options. The property serves as LUFKIN’s Global Corporate Headquarters, is the company’s only Surface Manufacturing facility, and is the Manufacturing and Engineering Headquarters for Lufkin’s Automation Division. In the last 4 years, the company has invested over $3.5 million into state-of-the-art equipment and processes at the facility. Additionally, the site’s large lot means that it can accommodate a significant facility expansion that could double the size of the current building to 80,000 square feet. The Property is centrally located in the Lakeview Industrial Park just off the Sam Houston Tollway, an 88-mile beltway providing access to the entirety of the Houston metro area. Lufkin’s neighbors include leading manufacturers, food processors, and other industrial operators. The region’s strategic location, robust infrastructure, and business-friendly environment have attracted a multitude of businesses, making the Houston region a key player in the national and global economy.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.