Dallas-based Invesco Real Estate sold City Park East, a 882,232-square-foot portfolio of five industrial buildings in Houston, to an unnamed pension fund advisor. The exchange was made free and clear of debt.
The portfolio includes five properties at 8503, 8607, 8609, 8711 and 8833 City Park Loop on 36 acres. Exel Logistics, a 20-year tenant, fully leases the property. The logistics firm recently signed a 472,600-square-foot lease renewal at 8833 and 8711 City Park Loop. For more on the renewal, see
Exel To Stay in Combined 472,600 SF.
Rusty Tamlyn, senior managing director, and Mike Parker, associate director, of Holliday Fenoglio Fowler LP represented Invesco.
Please refer to CoStar COMPS #1483931 for more information on this transaction.