HOUSTON–Dalfen America Corp. (DAC) has acquiredLockwood International’s corporate headquarters and distribution facilities in Houston.
The three-building portfolio is comprised of two warehouses and one office building totaling 201,000 square feet. The properties were a build to suit project for Lockwood, a valve automation and supplier concern, in 1998, 2002 and 2004.
Located approximately two miles from Union Pacific’s Englewood and Settagast intermodal terminals, with access to I-10, and I-620, the property is also located 15 minutes from downtown Houston and 30 minutes fromGeorge Bush Intercontinental Airport.
“Over the last two months, we have acquired nine buildings totaling close to 1 million square feet of industrial property in Texas,” said president and chief investment officer Sean Dalfen. “Both people and businesses continue to flock to Texas in droves. Even with the decline in the energy sector, we believe that the state’s economy is sufficiently diverse and will remain one of the nation’s top performing markets for the foreseeable future.”
Joseph Smith of CBRE represented Lockwood International in the sale-leaseback transaction to DAC. [GlobeSt]