PRINCETON, NJ–Chambers Street Properties has dumped four multi-tenant office assets totaling 534,849 square feet that it deemed "non-core" to its long-term strategy. The properties brought an aggregate price of $66.3 million.

The dispositions included one wholly owned asset and three assets from the company's joint venture with Duke Realty Corporation (all joint venture property dollar amounts stated here are included at Chambers Street's 80% pro rata share). Mortgage loans of approximately $19.2 million (at Chambers Street's pro rata share) were paid off in conjunction with these sales, resulting in sale proceeds of approximately $47.1 million.

The properties, their sale prices, total square footage, and locations are:

• Sam Houston Crossing I*, a one 3-story multi-tenant office building in Houston, TX, 159,175 square feet, sold for $26.2 million.
• One & Two Easton Oval*, two 5-story multi-tenant office buildings in Columbus, OH, 253, 705 square feet, sold for $20.7 million
• Deerfield Commons I & II, one 4-story multi-tenant office building and 10-acre lot in Alpharetta, GA, 121,969 square feet, sold for $19.4 million.

*Joint venture properties. Sale price represents Chambers Street's 80% pro rata share.

“These transactions bring our total 2014 disposition volume to approximately $184.8 million. We remain diligent in selling assets that are not core to our long-term strategy and view sale proceeds from these dispositions as an attractive source of capital for future U.S. industrial acquisitions,” says Martin A. Reid, executive vice president and chief financial officer of Chambers Street.