Mexican Chemicals Company Opens First Houston Office
Eurochem International Corp., an international chemicals company based in Mexico City, is opening its first Houston office just north of Beltway 8 near the Hardy Toll Road.
Eurochem leased the entire 8,000-square-foot building at 3023 Farrell Road, California-based Lee & Associates announced in a release. Reed Vestal, Cameron Hicks and Taylor Schmidt of Lee & Associates represented Eurochem, while Mike Spears and Robert Noack represented the landlord. Eurochem was attracted to Houston-based in large part on its proximity to its global headquarters as well to its current U.S. clientele, Vestal said. Eurochem’s U.S. headquarters are in Atlanta.
“It was a fun deal,” Vestal said. “We were able to locate and secure a space in less than a week. It was very clear-cut transaction.”
The building at 3023 Farrell Road is a single-tenant industrial facility owned by FTS Global LLC, which bought the property in January 2016, according to records. The building was constructed in 2014, according to property records.
Terms of the deal weren’t disclosed, and Eurochem declined to comment. The deal is significant for north Houston, which has been weighed down by an industrial vacancy rate of 8.9 percent as of September, according to Seattle-based Colliers International’s research. That’s the highest industrial vacancy rate of any submarket in Houston.
More recently, Transwestern’s Doug Little said that north Houston’s vacancy rate has crept above 10 percent.
“The north market has too much supply,” Little said. “That market, certainly because of all the oil field services companies and manufacturing companies located in north Houston, has hurt.”
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