HOUSTON--HFF has closed the sale of athree-building industrial portfolio totaling 243,100 square feet inHouston. HFF marketed the portfolio on behalf of the seller,EastGroup Properties. Cabot PropertiesInc. purchased the assets for an undisclosed amountfree and clear of existing debt.

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The 100-percent-leased portfolio consists ofClay-Campbell I and II innorthwest Houston and Kirby Business Center insouth Houston.

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Clay-Campbell I and II are located at 4300-4320 and 4444-4456Campbell Road. The buildings are located in Houston's premiersubmarket and offer access to both Highway 290 as well as Beltway8. Completed in 1982, both buildings have 58,846 square feetand are equipped with cross-dock, dock-high loading bays with abuilding depth of 220 feet.

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Kirby Business Center is located at 9350-9370 South Point Drive,which is just south of NRG Stadium and the Texas MedicalCenter. Loop 610 is less than one mile from the property,allowing easy access to all major freeways. The 125,408-square-footbuilding was completed in 1980 and is equipped with dock-high,front-load bays with an approximately building depth of 204feet.

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The HFF investment sales team was led by senior managingdirector Rusty Tamlyn, director TrentAgnew and real estate analyst JohnRogers.

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”Because of their tremendous functionality, these assets haveenjoyed a strong historical performance under EastGroup's ownershipand generated significant interest from both institutional andprivate capital investors,” Agnew says. “Like EastGroup, Cabotcontinues to be bullish on Houston's long-term prospects and theseassets are a great compliment to their current holdings and givethem exposure to the market within their latest fund.”

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Reps with HFF were unable to offer more details by presstime.

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