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.
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