Nearly 450,000 SF Houston Industrial in Sale-Leaseback

HOUSTON (HFF) – An affiliate of Lexington Realty Trust has purchased a two-property, 449,895-sf industrial portfolio from Spitzer Industries/Stephens Group.

The portfolio serves the operating needs for Spitzer, a custom fabricator of specialized equipment for the energy industry. It consists of the Waterfront Deck and Brookshire Orizon properties.

The Waterfront Deck property has six buildings totaling 187,800 sf at 13863 Industrial Rd. in east Houston. The Brookshire Orizon facility was renovated between 2012 and 2014 and consists of one 262,645-sf building at 7007 FM 362 in Brookshire, a suburb 37 miles west of Houston.

Lexington has leased the properties back to Spitzer for 20 years.

HFF represented the seller and marketed the property.