CHALLENGE
Apollo selected ICO to acquire an industrial building in Houston to consolidate their business unit operations. Apollo had several business units in multiple separate locations and none of the building locations were geographically desirable or close to one another. In addition, each business unit was experiencing growth, but they were each out-growing their facilities. ICO was hired to help Apollo buy a new building to consolidate their existing businesses under one roof and then lease up the other real estate assets to create new income producing properties.

STRATEGY
Due to marketplace constraints, there were almost no buildings in the size range that was appropriate for Apollo. Identified, toured and reviewed existing buildings, but they were too old, had too much deferred maintenance or the retro-fit costs were too high to make purchasing an existing building a viable option. After extensive marketplace study, construction bidding, comparative analysis and financial analysis, the client decided constructing a new building was the best decision.

RESULTS
Apollo constructed a 66,500 SF tilt-wall distribution building with 25 dock-high overhead doors and 5,000 SF of office space all on a 5.0 acre site.