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Avera Cos, a development firm headed by Trey Odom, purchased 850 Independence Pkwy in Baytown. The 42-acre site at the entry to the Houston Ship Channel was sold by Colonial Pipeline Co, repped by NGKF executive managing director Doug Nicholson and senior managing director Rob Stillwell.
“Investors are recognizing Houston as a primary gateway city,” Doug says. “Colonial Pipeline Co saw this as an opportunity to sell at the peak of the market, which was substantiated by the interest and number of offers we analyzed.”
The land provides a deep-water terminal space with prominent pipeline corridor access. “With billions in petrochemical plant projects along the Houston Ship Channel, this sale is an ideal opportunity for Avera," Rob says. Houston's a major player in global trade, and manufacturing and importing/exporting activity has remained strong.
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