A Chinese patio furniture company is expanding to Houston.
Best Sun Inc., a manufacturer and distributor of patio furniture, purchased a 21,150-square-foot industrial facility at 12373 Koalstad Road in Conroe. The facility sits on 9.7 acres near FM 3083 north of Houston.
Kassie Locke, commercial Realtor with Keller Williams Realty Northeast, represented Best Sun in the deal. Matthew Goldsby of Belvoir Real Estate Group represented the seller, Zions Bank, the corporate owner of Amegy Bank. Financial terms of the deal, which closed last month, were not disclosed.
The industrial facility was previously owned by Cougar Turbine Supply. The property fell into foreclosure and was acquired by Zions Bank. A call to The Woodlands-based gas turbine engine parts company was not immediately returned.
Best Sun plans to move into the facility by the end of the year, and hopes to build additional industrial facilities on the site, Locke said.
Conroe’s proximity to energy companies in The Woodlands and George Bush Intercontinental Airport is attracting oilfield service and manufacturing companies to purchase or lease industrial space north of Houston, Goldsby said. Conroe was recently listed as the fastest-growing city in the nation, according to the U.S. Census Bureau.
Best Sun closed on its Conroe facility in less than a month, a sign of how quickly industrial space can move in that market today. Typically, industrial real estate takes between three to nine months to sell, Goldsby said.
“We see a lot of growth opportunity in Conroe,” Goldsby said. “As residents continue to move farther and farther north, we’re seeing a trickle-down effect. We have a lot of (industrial) users looking and an under-supply of inventory in this market.”