The build-to-suit campus, developed in 2000, is net-leased to Veritas Geophysical Corp. through Sept. 30, 2015. Veritas DGC Inc. is a leading provider of integrated geophysical technologies worldwide.
Cushman & Wakefield Inc.'s New York City headquarters office handled the transaction for buyer and seller. The three buildings are located at 10300 Town Park Dr. at the northwest intersection of Sam Houston Parkway and Bellaire Boulevard. The asset has sold for $21.5 million more than its 2004 assessment by Harris County.
"Even though the buildings are a single-story service center and two three-story office buildings, they are all connected and have just one address," Natasha Roberts, vice president of the New York City-based Lexington, says. "They are fairly new buildings and not the first for Lexington in Houston." There are no plans to expand the campus, a source says.
The Veritas complex pushes Lexington's Houston-area portfolio to six properties. In Houston, the investment group owns three buildings, leased to Baker Hughes Inc., at 9110 Grogans Mill Rd., 2529 W. Thorns Dr. and 10001 Richmond Ave. Lexington also owns a Baker Hughes-leased property at 12645 W. Airport in Sugar Land, and 15375 Memorial Dr., occupied by the locally headquartered Vastar Resources Inc., one of the largest independent oil and natural gas exploration and production companies.
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