The owner of Shamrock Pipe Tools, at 11210 Choctaw Drive, has paid $500,000 for the warehouse his company has leased for at least the last three years.
In a deal that closed today, Patrick Crane purchased the building through a Nevada-registered limited liability company named 11210 Choctaw Drive LLC, according to records documenting the sale.
The seller is listed as S and B Investments LLC, represented by Julie Hoffman. Scot Guidry, of Mike Falgoust & Associates, represented the seller.
Guidry says the roughly 20,000-square-foot warehouse initially was not for sale, but he and the previous landlord suspected the tenant had some interest in buying it.
Shamrock Pipe Tools, which manufactures and sells tools used for sewer maintenance, will continue to occupy the warehouse, which is located on a roughly one-acre tract of land in the Red Oak Commercial Center.
The property is zoned for light industrial use.
Guidry says the purchase was not part of the lease agreement.
—Alexandria Burris
