Feb 27, 2017
Canadian REIT buys IKEA 1M-sf distribution center
BAYTOWN – Canada-based Pure Industrial Real Estate Trust has drafted a deal to purchase the newly constructed industrial buildings IKEA is leasing. The property is near the Port of Houston. The REIT buying the two buildings, which...
BAYTOWN – Canada-based Pure Industrial Real Estate Trust has drafted a deal to purchase the newly constructed industrial buildings IKEA is leasing. The property is near the Port of Houston.
The REIT buying the two buildings, which total 996,482 sf, will pay approximately $63.5 million.
The buildings are located in the 10,987-acre Cedar Port Industrial Park.
The Class A buildings are 100 percent leased to IKEA Distribution Services Inc., according to the REIT.
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