CRT expands in Florida, Texas

Buys 2 office buildings for nearly $41 million

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CRT Properties purchased two mid-rise office buildings in Jacksonville, Fla., and Houston, Texas. In the aggregate these properties comprise 408,000 square feet. The total value of the transactions was $40.4 million. CRT completed the acquisition of a five-story, 224,000-square-foot, single-tenant, class "A" office building located in the Baymeadows submarket of Jacksonville for approximately $20.8 million. The purchase is part of a sale-leaseback transaction with the current owner of the property, Citicorp Credit Services Inc. (USA), who occupied 100 percent of the building at the time of sale. Additionally, CRT acquired the Westchase Corporate Center located in Houston for approximately $19.6 million. The property is a six-story, 184,000-square-foot, class "A" office building. CRT Properties Inc. owns or has interests in 133 office buildings located primarily in 20 suburban office projects and two urban centers in 12 metropolitan areas in the southeastern United States, Texas an...