{"id":265474,"date":"2025-09-30T03:19:32","date_gmt":"2025-09-30T03:19:32","guid":{"rendered":"https:\/\/www.europesays.com\/us\/265474\/"},"modified":"2025-09-30T03:19:32","modified_gmt":"2025-09-30T03:19:32","slug":"oil-drilling-equipment-manufacturer-sells-1-3m-sf-houston-industrial-property","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/265474\/","title":{"rendered":"Oil Drilling Equipment Manufacturer Sells 1.3M SF Houston Industrial Property"},"content":{"rendered":"<p dir=\"ltr\">Brennan Investment Group and PCCP formed a joint venture to acquire a 16-building industrial portfolio in <a class=\"tag tag-107026\" href=\"https:\/\/www.bisnow.com\/tags\/northwest-houston\" target=\"_blank\" data-tag-id=\"107026\" rel=\"noopener\">Northwest Houston<\/a> from Innovex International Inc., a subsea <a class=\"tag tag-39328\" href=\"https:\/\/www.bisnow.com\/tags\/oil-and-gas\" target=\"_blank\" data-tag-id=\"39328\" rel=\"noopener\">oil and gas<\/a> equipment manufacturer.\u00a0<\/p>\n<p>                        <img decoding=\"async\" src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2025\/06\/1750589843_18_placeholder.png\" loading=\"lazy\" alt=\"Placeholder\"\/><\/p>\n<p>\n      Brennan Investment Group and PCCP acquired a 1.3M SF industrial portfolio in Northwest Houston.\n    <\/p>\n<p dir=\"ltr\">Houston-based Innovex sold the property at 6401 N. Eldridge Parkway for $90M, the <a href=\"https:\/\/www.businesswire.com\/news\/home\/20250924071298\/en\/Innovex-Completes-Sale-of-Dril-Quip-Eldridge-Facility\" target=\"_blank\" rel=\"noopener\">company announced<\/a>.\u00a0Innovex agreed to pay $650K per month to lease the property for the rest of the year while it completes consolidation initiatives, the press release says.<\/p>\n<p dir=\"ltr\">The property was formerly the headquarters of Dril-Quip, which <a href=\"https:\/\/worldoil.com\/news\/2024\/3\/19\/dril-quip-innovex-downhole-solutions-merge-to-form-unique-oil-and-gas-industrial-platform\" target=\"_blank\" rel=\"noopener\">merged with Innovex last year<\/a>. In 2024, Dril-Quip sold a 26-acre portion of the property to <a class=\"tag tag-176298\" href=\"https:\/\/www.bisnow.com\/tags\/constellation-real-estate-partners\" target=\"_blank\" data-tag-id=\"176298\" rel=\"noopener\">Constellation Real Estate Partners<\/a>, which planned to demolish an existing building and <a href=\"https:\/\/www.connectcre.com\/stories\/constellation-building-537k-sf-houston-warehouse\/\" target=\"_blank\" rel=\"noopener\">develop a 537K SF warehouse<\/a>.<\/p>\n<p dir=\"ltr\">The property acquired by <a class=\"tag tag-939\" href=\"https:\/\/www.bisnow.com\/tags\/brennan-investment-group\" target=\"_blank\" data-tag-id=\"939\" rel=\"noopener\">Brennan Investment Group<\/a> and <a class=\"tag tag-36436\" href=\"https:\/\/www.bisnow.com\/tags\/pccp\" target=\"_blank\" data-tag-id=\"36436\" rel=\"noopener\">PCCP<\/a> is 1.3M SF in total and includes 16 buildings ranging from 11K SF to 450K SF,\u00a0<a href=\"https:\/\/www.prnewswire.com\/news-releases\/brennan-investment-group-acquires-1-3-million-square-foot-industrial-campus-in-northwest-houston-302569156.html\" target=\"_blank\" rel=\"noopener\">according to Brennan<\/a>. The buildings, all constructed between 1999 and 2018, were designed for <a class=\"tag tag-6777\" href=\"https:\/\/www.bisnow.com\/tags\/manufacturing\" target=\"_blank\" data-tag-id=\"6777\" rel=\"noopener\">manufacturing<\/a> operations.\u00a0<\/p>\n<p dir=\"ltr\">\u201cFacilities of this caliber and scale rarely come to market, and their scarcity is enhanced by the limited new construction in this sector,\u201d Brennan Chief Investment Officer Kevin Brennan said in a statement.<\/p>\n<p dir=\"ltr\">This transaction is the first time Chicago-based Brennan Investment Group, a private real estate investment firm, has partnered with PCCP, a Los Angeles-based finance and investment management firm.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Brennan Investment Group and PCCP formed a joint venture to acquire a 16-building industrial portfolio in Northwest Houston&hellip;\n","protected":false},"author":3,"featured_media":265475,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5130],"tags":[138556,4345,138558,138559,138557,358,3187],"class_list":{"0":"post-265474","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-houston","8":"tag-brennan-investment-group","9":"tag-houston","10":"tag-houston-industrial","11":"tag-innovex","12":"tag-pccp","13":"tag-texas","14":"tag-tx"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115291092708318047","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/265474","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=265474"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/265474\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/265475"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=265474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=265474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=265474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}