Houston — (July 26, 2017) - CBRE National Partners announces the sale of Techway Southwest, a 414,540-square-foot institutional quality industrial portfolio in Houston.
Cabot Properties purchased the portfolio from EastGroup Properties for an undisclosed price. CBRE's Jack Fraker, Randy Baird, Heather McClain Venegoni and Tom Lynch arranged the transaction on behalf of the seller.
"We are pleased to be a part of this transaction between EastGroup and Cabot as it demonstrates the continued institutional demand for quality industrial product in Houston," said Ms. Venegoni.
The four-building portfolio was 100 percent leased at the time of sale to a diverse range of tenants, including Bass Computers and Sun & Ski. The buildings are strategically located on Bissonnet Boulevard, near Beltway 8 with convenient access to other major Houston arteries.
"The Class A, institutional quality construction of Techway Southwest will continue to draw national and regional tenants to these assets and push rental rates," said Mr. Lynch.
CBRE National Partners formed in 2010 and has since built an unparalleled network of industry relationships. These outstanding capital relationships combined with a fully integrated debt platform and backed by a dedicated support team, enhance the team's ability to achieve unsurpassed execution. The professionals of CBRE National Partners operate under a partnership model to deliver superior information, analytics, and strategy leading to extraordinary execution over the industrial property life cycle and across the capital stack. National Partners completed 228 dispositions in 2016 totaling 132 million sq. ft. valued at $10 billion.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.