HOUSTON--HFF has closed the sale of a three-building industrial portfolio totaling 243,100 square feet in Houston. HFF marketed the portfolio on behalf of the seller, EastGroup Properties. Cabot Properties Inc. purchased the assets for an undisclosed amount free and clear of existing debt.

The 100-percent-leased portfolio consists of Clay-Campbell I and II in northwest Houston and Kirby Business Center in south Houston. 

Clay-Campbell I and II are located at 4300-4320 and 4444-4456 Campbell Road. The buildings are located in Houston's premier submarket and offer access to both Highway 290 as well as Beltway 8. Completed in 1982, both buildings have 58,846 square feet and are equipped with cross-dock, dock-high loading bays with a building depth of 220 feet. 

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

The HFF investment sales team was led by senior managing director Rusty Tamlyn, director Trent Agnew and real estate analyst John Rogers.

”Because of their tremendous functionality, these assets have enjoyed a strong historical performance under EastGroup's ownership and generated significant interest from both institutional and private capital investors,” Agnew says. “Like EastGroup, Cabot continues to be bullish on Houston's long-term prospects and these assets are a great compliment to their current holdings and give them exposure to the market within their latest fund.” 

Reps with HFF were unable to offer more details by press time.