Colliers International is pleased to announce the Design + Construction Advisory Services (DCAS) team was selected for a 21,578 square foot industrial build-out for Transcat Inc. Transcat Inc. will be relocating and expanding its business to 16155 Park Row Drive in Houston, Texas. The landlord, AK Leasehold I, LLC, was represented by Jude Filippone of Transwestern. Blake Gibson of Colliers International represented the tenant in the transaction.
"We are looking forward to working with the Colliers Design + Construction Advisory Services team in helping to develop Transcat Inc.'s new space," said Chief Financial Officer of Transcat, Mike Tschiderer. "Trancat's new location will be an excellent addition as we continue to provide our clients with the highest quality calibration services and products."
Transcat is a leading provider of accredited calibration and laboratory instrument services and a value-added distributor of professional grade test, measurement and control instrumentation. For more than 50 years they have provided customers within industries like pharmaceutical, medical devices, industrial manufacturing, energy and chemical process with their accredited calibration services and test equipment.
"We are so pleased to have been brought on board to assist Transcat in relocating and expanding their business location," said Neil Potter, senior project manager of Colliers Design + Construction Advisory Services. "Working collaboratively with the team and managing our proven processes, Colliers DCAS team will deliver Transcat the project on time and under budget."
Katherine Rorie, with Method Architecture, will be working alongside the Colliers DCAS team on this project while Todd Buster, with Horizon Development & Construction, will be the general contractor.
The Northwest Outlier submarket contains 29.8M square feet of industrial and flex space which is 90.3% occupied. The submarket's average asking rental rate for industrial space of $9.63 per square foot is much higher than the Houston average asking rate of $8.12 per square foot.
About Colliers International
Colliers International (NASDAQ, TSX: CIGI) is a leading real estate professional services and investment management company. With operations in 68 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to maximize the value of property for real estate occupiers, owners and investors. For more than 25 years, our experienced leadership, owning approximately 40% of our equity, has delivered compound annual investment returns of almost 20% for shareholders. In 2019, corporate revenues were more than $3.0 billion ($3.5 billion including affiliates), with $33 billion of assets under management in our investment management segment. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn.
