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Cabot sells 2.4 million square feet of Texas industrial properties
The eight-building portfolio totals about 2.4 million square feet across Dallas-Fort Worth and Houston, and was acquired by a private real estate investment firm.
Cabot Properties has sold an eight-building modern industrial portfolio totaling approximately 2.4 million square feet across Dallas-Fort Worth and Houston, Texas, according to ConnectCRE.
The portfolio was purchased by a private real estate investment firm. Five of the buildings are located in Dallas-Fort Worth submarkets including South Dallas, Alliance, DFW Airport, and Great Southwest/Arlington, with an average property vintage of 2015, for roughly 2.0 million square feet.
The remaining three buildings are in Houston’s Northwest and North Corridors. ConnectCRE links the deal to sustained occupier demand, declining vacancy, and improving absorption in large-format industrial space, which it says has supported faster leasing and transaction activity in the Dallas-Fort Worth market.
In the transaction, CBRE, Cushman & Wakefield, and Eastdil Secured’s capital markets teams represented Cabot, each separately across the sale. ConnectCRE also notes that Cabot sold a separate set of 11 industrial properties last week totaling about 2.5 million square feet in Greater Chicago and Minneapolis, Minnesota.