Lexington buys Texas portfolio
Pays nearly $120 million for four buildings
By Inman News, Friday, March 26, 2004.Inman News®
Lexington Corporate Properties Trust acquired four properties totaling 1.06 million square feet in the Houston, Texas, area.
The total value of the transactions was $119.3 million.
The portfolio consists of office, research and development and manufacturing space, and includes the WesternGeco World Headquarters building (Houston), the Hughes Christensen World Headquarters building (Houston), the Baker Petrolite World Headquarters building (Sugar Land) and the Baker Hughes Worldwide Training/Worldwide Data Facility (Houston).
The properties are net leased to Baker Hughes Inc. (NYSE: BHI) and are occupied by various subsidiaries of Baker Hughes under leases that each have approximately 11.5 years remaining.
Lexington Corporate Properties Trust is a real estate investment trust that owns and manages office, industrial and retail properties.
Send a comment or news tip to our newsroom.
Please include the headline of the story.
All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.
You must login or register to post a comment.