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The former Greensheet printing company will be redeveloped into a self-storage facility. The 40K SF industrial facility sits on 6.2 acres at 1690 North Loop West in Houston. The purchase price was not disclosed.
GreenSpace Self-Storage will construct a Class-A storage facility with 75K SF of rentable square footage. The three-level facility will feature 24-hour surveillance, electronic access control, climate-controlled units and a retail-oriented customer service office.
“The properties in this area have a rich history,” Avison Young Senior Associate Taylor Wilson said in a release. “This space was the printing complex for the Greensheet for 20 years and it is adjacent to the nearly 80-year-old Houston Farmers Market. The renovations that are underway in this area will have a positive impact on the community for generations to come.”
Along with Wilson, Avison Young's Todd Mason, Jeff Lindenberger and Richard Mason represented the seller, Helen Gordon Interests LTD, which owns Greensheet. JLL’s Chris Bergmann Jr. represented the buyer, GreenSpace.
Due to the low cost of construction and residential growth in the area, GreenSpace co-owner David Ledoux see great potential in the site. The storage facility's design incorporates shipping containers to provide an eco-friendly, cost-effective building technique that provides a shorter construction timeline.
“We modify the containers off-site then bring them in and stack them,” Ledoux said. “It’s much quicker and less expensive to build, and the finished product is indistinguishable from any other Class-A storage facility.”
GreenSpace also recently acquired a 1,017-unit CubeSmart storage facility in Pearland.
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